Argo Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement, as its American Depositary Shares (ADS) traded below $1.00 for 30 consecutive business days.
The company has until July 15, 2025, to regain compliance with this requirement. Compliance can be achieved if the ADS bid price closes at or above $1.00 for a minimum of 10 consecutive business days before the deadline. During this period, Argo's ADSs will continue trading on the Nasdaq Global Select Market.
The notification does not affect Argo's business operations or its listing on the London Stock Exchange. The company will monitor its ADS bid price and evaluate options to resolve the deficiency and regain compliance with Nasdaq Rule 5450(a)(1).
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha ricevuto una comunicazione da Nasdaq riguardante la non conformità con il requisito del prezzo minimo di offerta, poiché le sue Azioni Depositarie Statunitensi (ADS) sono state scambiate sotto $1,00 per 30 giorni lavorativi consecutivi.
L'azienda ha tempo fino al 15 luglio 2025 per riconquistare la conformità a questo requisito. La conformità può essere raggiunta se il prezzo di offerta delle ADS si chiude a $1,00 o superiore per almeno 10 giorni lavorativi consecutivi prima della scadenza. Durante questo periodo, le ADS di Argo continueranno a essere scambiate sul Nasdaq Global Select Market.
La comunicazione non influisce sulle operazioni commerciali di Argo o sulla sua quotazione alla Borsa di Londra. L'azienda monitorerà il prezzo di offerta delle sue ADS e valuterà opzioni per risolvere la carenza e riconquistare la conformità con la Regola 5450(a)(1) di Nasdaq.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha recibido una notificación de Nasdaq indicando el incumplimiento del requisito del precio mínimo de oferta, ya que sus Acciones de Depósito Americanas (ADS) se negociaron por debajo de $1.00 durante 30 días hábiles consecutivos.
La empresa tiene hasta el 15 de julio de 2025 para recuperar la conformidad con este requisito. Se puede lograr la conformidad si el precio de oferta de las ADS cierra en o por encima de $1.00 durante un mínimo de 10 días hábiles consecutivos antes de la fecha límite. Durante este período, las ADS de Argo seguirán cotizando en el Nasdaq Global Select Market.
La notificación no afecta las operaciones comerciales de Argo ni su cotización en la Bolsa de Londres. La empresa monitoreará el precio de oferta de sus ADS y evaluará opciones para resolver la deficiencia y recuperar la conformidad con la Regla 5450(a)(1) de Nasdaq.
아르고 블록체인 (LSE:ARB)(NASDAQ:ARBK)는 미국 예탁주식(ADS)의 거래 가격이 연속 30일 동안 $1.00 이하로 거래되었다는 이유로 나스닥으로부터 최소 입찰 가격 요건을 위반했다는 통지를 받았습니다.
회사는 이 요건을 충족하기 위해 2025년 7월 15일까지 시간이 주어졌습니다. 입찰 가격이 마감일 이전에 10일 연속으로 $1.00 이상으로 종가를 기록하면 요건을 충족할 수 있습니다. 이 기간 동안 아르고의 ADS는 나스닥 글로벌 셀렉트 마켓에서 계속 거래됩니다.
이 통지는 아르고의 비즈니스 운영이나 런던 증권 거래소에서의 상장에 영향을 미치지 않습니다. 회사는 ADS의 입찰 가격을 모니터링하고 부족 상황을 해결하고 나스닥 규칙 5450(a)(1)의 준수를 회복하기 위한 옵션을 평가할 것입니다.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) a reçu une notification de Nasdaq indiquant un non-respect du seuil de prix minimum d'offre, car ses American Depositary Shares (ADS) ont été échangées en dessous de 1,00 $ pendant 30 jours ouvrables consécutifs.
La société a jusqu'au 15 juillet 2025 pour retrouver la conformité avec cette exigence. La conformité peut être atteinte si le prix d'offre des ADS clôture à ou au-dessus de 1,00 $ pendant au moins 10 jours ouvrables consécutifs avant la date limite. Pendant cette période, les ADS d'Argo continueront à être échangées sur le Nasdaq Global Select Market.
La notification n'affecte pas les opérations commerciales d'Argo ni son inscription à la London Stock Exchange. La société surveillera le prix d'offre de ses ADS et évaluera les options pour résoudre le déficit et retrouver la conformité avec la règle 5450(a)(1) de Nasdaq.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) hat eine Benachrichtigung von Nasdaq erhalten, in der auf die Nichteinhaltung der Mindestgebotsanforderung hingewiesen wird, da ihre American Depositary Shares (ADS) 30 aufeinanderfolgende Geschäftstage unter $1,00 gehandelt wurden.
Das Unternehmen hat bis zum 15. Juli 2025, um die Konformität mit diesem Erfordernis wiederzuerlangen. Die Konformität kann erreicht werden, wenn der Bid-Preis der ADS an mindestens 10 aufeinanderfolgenden Geschäftstagen vor der Frist bei oder über $1,00 schließt. In diesem Zeitraum werden die ADS von Argo weiterhin an der Nasdaq Global Select Market gehandelt.
Die Benachrichtigung hat keine Auswirkungen auf die Geschäftstätigkeiten von Argo oder deren Listung an der London Stock Exchange. Das Unternehmen wird den Bid-Preis seiner ADS überwachen und Optionen zur Lösung des Defizits sowie zur Wiederherstellung der Konformität mit der Nasdaq-Regel 5450(a)(1) bewerten.
- Company maintains its listing on both Nasdaq and London Stock Exchange during compliance period
- Extended compliance period until July 15, 2025 to resolve the issue
- Only needs 10 consecutive days above $1.00 to regain compliance
- Stock trading below $1.00 for 30 consecutive business days
- Risk of potential delisting from Nasdaq if compliance is not achieved by deadline
- Indicates significant decline in share value
Insights
The Nasdaq notification to Argo Blockchain regarding minimum bid price deficiency represents a serious challenge for the cryptocurrency mining company. A sustained trading period below
- Reverse stock split (share consolidation) to artificially boost share price
- Fundamental business improvements to attract investors and naturally increase share price
- Share buyback programs to support price levels
With a relatively small market cap of
The cryptocurrency mining sector's cyclical nature and current market conditions make this notification particularly challenging. A successful resolution will require either substantial improvement in crypto market conditions or significant corporate restructuring initiatives.
LONDON, UNITED KINGDOM / ACCESS Newswire / January 17, 2025 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), announces today that it has received written notification (the "Notification Letter") from the Nasdaq Stock Market LLC Listing Qualifications Department ("Nasdaq") that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Rule 5450(a)(1) since the closing bid price for the Company's American Depositary Shares ("ADS") listed on the Nasdaq Global Select Market was below
In accordance with Listing Rule 5810(c)(3)(A), the Company has until 15 July 2025, to regain compliance with the minimum bid price requirement, during which time the ADSs are expected to continue to trade on the Nasdaq Global Select Market. If at any time before 15 July 2025, the bid price of the ADSs closes at or above
The Notification Letter does not affect the Company's business operations, and it does not affect the Company's listing on the London Stock Exchange.
The Company intends to monitor the bid price of its ADSs between now and 15 July 2025, and to evaluate all available options to resolve the deficiency and regain compliance with Nasdaq Rule 5450(a)(1).
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
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Investor Relations | |
Tennyson Securities |
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Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
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Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-listed (LSE:ARB)(NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View the original press release on ACCESS Newswire
FAQ
What is the deadline for ARBK to regain Nasdaq compliance?
How can ARBK regain Nasdaq compliance?
Will ARBK continue trading on Nasdaq during the compliance period?
Does the Nasdaq notification affect ARBK's London Stock Exchange listing?
Why did ARBK receive a Nasdaq deficiency notice?
