Ocean Biomedical, Inc. (OCEA): Nasdaq/NYSE listing notice — Ocean Biomedical receives Nasdaq bid price deficiency notice; must regain compliance by July 9, 2024

Ocean Biomedical, Inc.

Closing bid price of common stock (OCEA) below $1.00 for 30 consecutive business days through Jan 10, 2024.
180-day cure period ends July 9, 2024; compliance requires $1.00 closing bid for 10 consecutive business days.
Company may seek 180-day extension if it meets other listing standards and notifies Nasdaq of intent to cure via reverse stock split.
If not cured, Nasdaq will delist common stock; company can appeal to a Hearings Panel.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Ocean Biomedical, Inc. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

January 11, 2024, Ocean Biomedical, Inc. (the “ Company ”) was notified (the “ Notification Letter ”) by The Nasdaq Stock Market, LLC (“Nasdaq”) that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq 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 business d

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Ocean Biomedical, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-002701

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