GSE SYSTEMS INC: Nasdaq/NYSE listing notice — GSE Systems receives Nasdaq delisting notice for bid price below $1.00

GSE SYSTEMS INC

Notice received November 4, 2022, for failing to maintain $1.00 minimum bid price for 30 consecutive days.
Company has 180 calendar days, until May 3, 2023, to regain compliance by closing at $1.00 or higher for 10 consecutive days.
If not compliant by May 3, 2023, company may be eligible for an additional 180-day cure period if it meets other listing standards.
Failure to cure could lead to delisting; company may appeal to a Nasdaq Hearings Panel.
Management intends to monitor bid price and evaluate options but cannot assure compliance will be achieved.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

GSE SYSTEMS INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(H)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(H)

Exact text from the filing

November 4, 2022, GSE Systems, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company failed to maintain a minimum closing bid price of $1.00 per share for the prior 30 consecutive trading day period, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). The Company’s receipt of the Notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission. The Notice provided that, pursuant to Nasda

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Source: SEC EDGAR

accession 0000944480-22-000041

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