Neptune Wellness Solutions Inc.: Nasdaq/NYSE listing notice — Neptune Wellness receives Nasdaq deficiency notice for bid price below $1.00

Neptune Wellness Solutions Inc.

Received Nasdaq notice on Dec 29, 2022 for failing minimum bid price of $1.00 over 30 consecutive business days.
Has 180 calendar days until June 27, 2023, to regain compliance by closing at $1.00+ for 10 consecutive trading days.
If non-compliance persists, may face delisting from Nasdaq; business operations are unaffected.
Company may consider a reverse stock split to regain compliance.

Key facts

Extracted from this filing and checked against the source text.

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

Neptune Wellness Solutions Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

December 29, 2022, Neptune Wellness Solutions Inc. (the “Company”) received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires that the closing bid price for the Company's common shares listed on Nasdaq be maintained at a minimum of $1.00. Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive busines

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Source: SEC EDGAR

accession 0000950170-23-000208

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