QUANTUM CORP /DE/ (QMCO): Nasdaq/NYSE listing notice — Quantum receives Nasdaq non-compliance notice for bid price below $1.00

QUANTUM CORP /DE/

Notified by Nasdaq on Sept 20, 2023 of minimum bid price deficiency.
Stock closed below $1.00 per share for 30 consecutive business days.
Company has 180 calendar days, until March 18, 2024, to regain compliance.
No immediate effect on Nasdaq listing or business operations.
If compliance not met by March 18, 2024, may be eligible for additional time.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

QUANTUM CORP /DE/ received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

September 20, 2023, Quantum Corporation (the “Company”) was notified by the Nasdaq Stock Market LLC (“Nasdaq”) that it was not in compliance with Nasdaq‘s minimum closing bid price requirement of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1), for 30 consecutive business days. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum closing bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The notification has no immediate effect on the Company’s Nasdaq listing, and the Company has 180 calendar days from

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Source: SEC EDGAR

accession 0000709283-23-000035

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