regulatory
confidence high
sentiment negative
materiality 0.70
Yunhong CTI receives Nasdaq bid-price deficiency notice; annual meeting extension granted
YUNHONG GREEN CTI LTD.
- Nasdaq notified on March 8, 2022 that CTIB failed to maintain $1.00 minimum bid for 30 consecutive business days.
- Company has 180 calendar days, until September 5, 2022, to regain compliance by closing at $1.00+ for 10 consecutive days.
- Also received extension until June 17, 2022 to hold annual meeting, addressing prior non-compliance with Listing Rule 5620.
- Failure to cure either deficiency could result in delisting of CTIB common stock from Nasdaq.
- Company intends to monitor bid price and hold annual meeting by the respective deadlines.