CHARLES & COLVARD REGAINS COMPLIANCE WITH NASDAQ MINIMUM BID PRICE LISTING REQUIREMENT

Rhea-AI Summary

Charles & Colvard, Ltd. (Nasdaq: CTHR) announced on April 25, 2023, that it has regained compliance with Nasdaq's minimum bid price listing requirement. The company confirmed that as of April 20, 2023, the minimum bid price of its common stock was at least $1.00 per share for the last 10 consecutive trading days. This achievement fulfills the Listing Rule 5550(a)(2) requirement, effectively closing the compliance issue. Charles & Colvard specializes in fine jewelry, particularly lab-grown diamonds and moissanite, and operates under the motto of ethical sourcing and sustainability.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Common stock price maintained above $1.00 for 10 consecutive trading days.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., April 25, 2023 /PRNewswire/ -- Charles & Colvard, Ltd. (Nasdaq: CTHR) (the "Company"), a globally recognized fine jewelry company that specializes in moissanite and lab grown diamonds, announced today that it has regained compliance with Nasdaq's minimum bid price continued listing requirement. A letter from Nasdaq Listing Qualifications Department noted that as of April 20, 2023, the minimum bid price of the Company's common stock was $1.00 per share or greater for the last 10 consecutive business/trading days. As a result, the Company has now regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (Nasdaq: CTHR) believes that fine jewelry should be as ethical as it is exquisite. Charles & Colvard is the original creator of lab grown moissanite (a rare gemstone formed from silicon carbide). The Company brings revolutionary gems and fine jewelry to market by using exclusively Made, Not Mined™ above ground gemstones and a dedication to 100% recycled precious metals. Their Forever One™ moissanite and Caydia^® lab grown diamond brands provide exceptional quality, incredible value and a conscious approach to bridal, high fashion, and everyday jewelry. Charles & Colvard was founded in 1995 and is based in North Carolina's Research Triangle Park region. For more information, please visit www.charlesandcolvard.com.

CONTACTS

Company Contact
Clint J. Pete, Chief Financial Officer
(919) 468-0399
ir@charlesandcolvard.com

Investor Contact
Lytham Partners
Robert Blum, Managing Partner
Adam Lowensteiner, Vice President
(646) 829-9702
cthr@lythampartners.com

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SOURCE Charles & Colvard, Ltd.

FAQ

What does it mean that Charles & Colvard regained compliance with Nasdaq's listing requirement?

It means that Charles & Colvard's stock price has met the minimum requirement of $1.00 per share for a specific period, ensuring it remains listed on the Nasdaq exchange.

When did Charles & Colvard regain compliance with Nasdaq?

Charles & Colvard regained compliance on April 20, 2023.

What is the stock symbol for Charles & Colvard?

The stock symbol for Charles & Colvard is CTHR.

What is the minimum bid price requirement for Nasdaq?

The minimum bid price requirement for Nasdaq is $1.00 per share for continued listing.

Is Charles & Colvard's stock at risk of delisting?

No, Charles & Colvard is no longer at risk of delisting since it has met Nasdaq's minimum bid price requirement.