COMSovereign Regained Compliance with Nasdaq Listing Criteria

Rhea-AI Summary

COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced it has regained compliance with Nasdaq's minimum bid price requirement, achieving a closing bid price of at least $1.00 per share for ten consecutive business days. The company's compliance extends to all other listing criteria, having filed the necessary periodic reports with the SEC. This notification concludes the Nasdaq listing matter, affirming COMSovereign's standing on The Nasdaq Capital Market. The company specializes in 4G LTE Advanced and 5G communication systems, enhancing connectivity across the data transmission spectrum.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Achieved a closing bid price of at least $1.00 for 10 consecutive business days.
• Compliant with all other Nasdaq listing criteria.

Negative

• None.

TUCSON, Ariz., March 1, 2023 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G communication systems, today announced the receipt of formal notification from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with Nasdaq's minimum bid price requirement by evidencing a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days. Additionally, the Company is otherwise compliant with all other criteria for continued listing on The Nasdaq Capital Market, including the requirement to file all necessary periodic reports with the SEC. Accordingly, the Nasdaq listing matter has been closed.

For more information about COMSovereign, please visit www.COMSovereign.com and connect with us on Facebook and Twitter.

About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a portfolio of communications technology companies that enhance connectivity across the entire data transmission spectrum. Through strategic acquisitions and organic research and development efforts, COMSovereign has become a U.S.-based communications provider able to provide 4G LTE Advanced and 5G telecom solutions to network operators and enterprises. For more information about COMSovereign, please visit www.COMSovereign.com.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts:

Steve Gersten, Director of Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com

and

Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

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SOURCE COMSovereign Holding Corp.

FAQ

What does it mean that COMSovereign has regained compliance with Nasdaq?

It means COMSovereign has met Nasdaq's minimum bid price requirement of $1.00 per share for ten consecutive business days.

When did COMSovereign regain compliance with Nasdaq?

COMSovereign announced it regained compliance on March 1, 2023.

Is COMSovereign still listed on Nasdaq?

Yes, COMSovereign remains listed on Nasdaq after regaining compliance.

What actions did COMSovereign take to comply with Nasdaq rules?

COMSovereign achieved a closing share price of at least $1.00 for ten consecutive days and has filed the necessary reports with the SEC.

What is the significance of Nasdaq compliance for COMSovereign's stock?

Regaining compliance helps ensure that COMSovereign's stock remains listed on Nasdaq, which is critical for investor confidence and market access.