Cinedigm Corp. Regains Compliance With Nasdaq Listing Rule 5450(a)(1)

Rhea-AI Summary

Cinedigm Corp. (NASDAQ: CIDM) has regained compliance with Nasdaq's Listing Rule 5450(a)(1), requiring a minimum bid price of $1.00 per share. The notification came after CIDM's stock met the $1.00 per share threshold for 10 consecutive business days. Previously, on October 11, 2019, Cinedigm was notified of non-compliance when its stock price fell below the required amount for 30 consecutive business days. This compliance reinstatement is crucial for maintaining the company's listing on the Nasdaq Exchange.

Positive

• Regained compliance with Nasdaq's Listing Rule 5450(a)(1).
• Stock price maintained $1.00 or greater for 10 consecutive business days.

Negative

• Previously faced non-compliance notification on October 11, 2019.

LOS ANGELES, June 17, 2020 (GLOBE NEWSWIRE) -- Cinedigm Corp. ("Cinedigm" or the "Company") (NASDAQ: CIDM) received formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5450(a)(1), which requires the Company's common stock to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's common stock was at $1.00 per share or greater for the prior 10 consecutive business days.

Nasdaq had previously notified the Company of its non-compliance with Listing Rule 5450(a)(1) on October 11, 2019, following 30 consecutive business days for which the closing bid price of the Company's common stock did not meet the $1.00 per share minimum requirement.         

ABOUT CINEDIGM
For more than twenty years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains hundreds of millions of consumers around the globe by providing premium content, streaming channels and technology services to the world’s largest media, technology and retail companies. For more information, visit http://www.cinedigm.com/

[CIDM-G]

For more information:
Jill Newhouse Calcaterra
Cinedigm
jcalcaterra@cinedigm.com
310-466-5135

FAQ

What does Cinedigm's compliance with Nasdaq's Listing Rule 5450(a)(1) mean for investors?

Cinedigm's compliance indicates that its stock price has stabilized above the $1.00 minimum, allowing it to remain listed on the Nasdaq exchange, which can positively influence investor confidence.

When was Cinedigm notified of non-compliance with Nasdaq rules?

Cinedigm was notified on October 11, 2019, for failing to meet the $1.00 minimum bid price requirement.

What is the current stock price status of Cinedigm as of June 2020?

As of June 2020, Cinedigm's stock price has been at $1.00 or greater for the last 10 consecutive business days, regaining compliance.

What is the significance of staying compliant with Nasdaq's Listing Rule for CIDM?

Staying compliant with Nasdaq's Listing Rule is significant for CIDM as it ensures continued listing on a major exchange, which is vital for liquidity and investor interest.