Cosmos Health Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Cosmos Health Inc. (NASDAQ:COSM) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The company received a notification letter from Nasdaq on July 19, 2024, confirming that it had achieved a closing bid price of $1.00 or greater for ten consecutive business days from July 5 to July 18, 2024. This compliance was achieved organically without a reverse stock split. Cosmos Health is a diversified, vertically integrated global healthcare group involved in R&D, pharmaceutical and nutraceutical brands, healthcare product distribution, and telehealth services.

Positive

• Regained Nasdaq compliance without reverse stock split
• Maintained listing on Nasdaq

Negative

• None.

CHICAGO, IL / ACCESSWIRE / July 19, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has regained compliance with the minimum bid price requirement of $1.00 per share, as set forth in the Nasdaq Rules for continued listing on Nasdaq.

On July 19, 2024, Cosmos Health received a notification letter (the "Notification Letter") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq"), informing the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement").

To regain compliance with the Minimum Bid Price Requirement, the closing bid of the Company's shares of common stock needed to be at least $1.00 per share for a minimum of ten (10) consecutive business days. The Notification Letter confirmed that the Company achieved a closing bid price of $1.00 or greater per common share for ten (10) consecutive business days from July 5, 2024 to July 18, 2024, thereby regaining compliance with the Minimum Bid Price Requirement. Accordingly, Nasdaq has determined that this matter is now closed.

Greg Siokas, CEO of Cosmos Health, stated: "We are pleased to have regained organic compliance with the minimum bid price requirement of $1.00 per share without the need for a reverse stock split."

About Cosmos Health Inc.

Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, as well as LinkedIn and X.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653

SOURCE: Cosmos Health Inc.

View the original press release on accesswire.com

FAQ

When did Cosmos Health (COSM) regain compliance with Nasdaq's minimum bid price rule?

Cosmos Health (COSM) regained compliance with Nasdaq's minimum bid price rule on July 19, 2024, as confirmed by a notification letter from Nasdaq's Listing Qualifications Department.

What was the minimum bid price requirement for Cosmos Health (COSM) to maintain Nasdaq listing?

The minimum bid price requirement for Cosmos Health (COSM) to maintain Nasdaq listing was $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2).

How long did Cosmos Health (COSM) need to maintain a closing bid price above $1.00 to regain compliance?

Cosmos Health (COSM) needed to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days to regain compliance with Nasdaq's minimum bid price requirement.

Did Cosmos Health (COSM) use a reverse stock split to regain Nasdaq compliance?

No, Cosmos Health (COSM) regained organic compliance with Nasdaq's minimum bid price requirement without the need for a reverse stock split.