CHARLES & COLVARD LTD: Nasdaq/NYSE listing notice — Charles & Colvard receives Nasdaq bid price deficiency notice; 180-day cure period

CHARLES & COLVARD LTD

Nasdaq notified CTHR on June 12, 2023 that bid price closed below $1.00 for 30 consecutive business days.
Company has until December 11, 2023 to regain compliance: bid price must close at $1.00+ for 10 consecutive days.
If compliance not met, Nasdaq may grant an additional 180-day period if other listing standards are met.
Failure to cure could lead to delisting; company may appeal any such determination.
Management will monitor bid price and consider options to regain compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

CHARLES & COLVARD LTD received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

June 12, 2023, Charles & Colvard, Ltd. (the “Company”) received a notification letter from Nasdaq’s Listing Qualifications Department indicating that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) because the minimum bid price of its common stock on the Nasdaq Capital Market has closed below $1.00 per share for 30 consecutive business days. The notification letter has no immediate effect on the Nasdaq listing or trading in the Company’s common stock. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until December 11, 2023, to reg

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Source: SEC EDGAR

accession 0001104659-23-071201

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