Cyren Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Cyren Ltd. (NASDAQ:CYRN) announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which mandates a minimum closing bid price of $1.00 per share. This compliance notification was received after the company's closing bid price exceeded $1.00 for ten consecutive business days. Previously, Nasdaq had notified Cyren of non-compliance on April 8, 2021, due to a 30-day failure to meet this requirement. Cyren provides cloud security solutions relied upon by over 1.3 billion users globally.

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MCLEAN, VA / ACCESSWIRE / February 25, 2022 / Cyren Ltd. (NASDAQ:CYRN) today announced it received formal notification from the Listing Qualifications Staff of the Nasdaq Stock Market Inc. ("Nasdaq") that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company to maintain a minimum closing bid price of $1.00 per share. Nasdaq Staff made this determination of compliance after the Company's bid price closed above $1.00 per share for the prior 10 consecutive business days.

Nasdaq had previously notified the Company of its non-compliance with Listing Rule 5550(a)(2) on April 8, 2021, following 30 consecutive business days for which the Company's closing bid price did not meet the $1.00 per share minimum requirement.

About Cyren:
More than 1.3 billion users around the world rely on Cyren's cloud security solutions to protect them against cyber attacks and data loss every day. Powered by GlobalView, Cyren's global security cloud that identifies emerging threats on a global basis in real-time, Cyren (NASDAQ:CYRN) delivers fast time-to-protection with threat detection services, threat intelligence and enterprise email security products for leading email providers, cybersecurity vendors, service providers and enterprises. Learn more at www.cyren.com.

Blog: https://www.cyren.com/blog

LinkedIn: www.linkedin.com/company/cyren

Twitter: www.twitter.com/CyrenInc

Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Cyren's control, and cannot be predicted or quantified, and include, among others, statements regarding the intended use of proceeds, as well as various additional risks, many of which are now unknown and generally out of Cyren's control, and which are detailed from time to time in reports filed by Cyren with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Cyren does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.

Company Contact:
Kenneth Tarpey, CFO
Cyren
+1.703.760.3320
Kenneth.tarpey@cyren.com

SOURCE: Cyren Ltd

View source version on accesswire.com:
https://www.accesswire.com/690371/Cyren-Regains-Compliance-with-Nasdaq-Listing-Requirements

FAQ

What does the recent press release mean for Cyren's stock price?

The press release indicates that Cyren has regained compliance with Nasdaq's minimum bid price requirement, which could positively influence investor confidence and stock price stability.

When did Cyren last face compliance issues with Nasdaq?

Cyren was previously notified of its non-compliance with Nasdaq Listing Rule 5550(a)(2) on April 8, 2021.

How long did Cyren maintain compliance this time?

Cyren maintained a closing bid price above $1.00 for ten consecutive business days to regain compliance.

What is Nasdaq Listing Rule 5550(a)(2)?

Nasdaq Listing Rule 5550(a)(2) requires companies to maintain a minimum closing bid price of $1.00 per share.

What services does Cyren provide?

Cyren offers cloud security solutions that protect users from cyber attacks and data loss, serving over 1.3 billion users worldwide.