ADDVANTAGE TECHNOLOGIES GROUP INC: Nasdaq/NYSE listing notice — Addvantage Technologies receives Nasdaq deficiency notice for bid price below $1.00 per share

ADDVANTAGE TECHNOLOGIES GROUP INC

Received Nasdaq letter on June 7, 2023, for non-compliance with minimum bid price of $1.00 for 30 consecutive business days.
No immediate effect on listing; 180-day compliance period ends December 4, 2023.
To regain compliance, closing bid price must be at least $1.00 for 10 consecutive business days during grace period.
Company may qualify for a second 180-day period if it meets other Nasdaq listing standards.
Intends to consider available options to cure deficiency, including a reverse stock split.

Key facts

Extracted from this filing and checked against the source text.

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

ADDVANTAGE TECHNOLOGIES GROUP 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

June 7, 2023, ADDVANTAGE TECHNOLOGIES GROUP, INC. (the “Company”) received a letter (the “Notice”) from The Nasdaq Stock Market notifying the Company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement 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 (the “Minimum Bid Price Requirement”), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to me

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Source: SEC EDGAR

accession 0001628280-23-021709

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