ENGlobal Regains NASDAQ Compliance

Rhea-AI Summary

ENGlobal (NASDAQ: ENG) has announced that it has regained compliance with the NASDAQ minimum bid price requirement. The official notification, dated December 4, 2020, confirmed that for 10 consecutive business days, from November 19 to December 3, the company's stock price was at $1.00 or above. This compliance with NASDAQ Listing Rule 5550(a)(2) allows ENGlobal to maintain its listing. The company offers engineering and automation services mainly to the energy sector.

Positive

• Regained compliance with NASDAQ minimum bid price requirement.
• Stock price maintained at $1.00 or above for 10 consecutive days.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / December 7, 2020 / ENGlobal (NASDAQ:ENG), a leading provider of engineered modular solutions, today announced that it has received official notification from The Nasdaq Stock Market that the company has regained compliance with the minimum bid price requirement for continued listing on the NASDAQ Capital Market.

This notification, dated December 4, 2020, stated that for the last 10 consecutive business days, from November 19 to December 3, 2020, the closing bid price of the company's common stock has been at $1.00 per share or greater. Accordingly, the company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and this matter is now closed.

About ENGlobal

ENGlobal (NASDAQ:ENG) is a provider of engineering and automation services primarily to the energy sector throughout the United States and internationally. ENGlobal operates through two business segments: Automation and Engineering. ENGlobal's Automation segment provides services related to the design, fabrication and implementation of distributed control, instrumentation and process analytical systems. The Engineering segment provides consulting services for the development, management and execution of projects requiring professional engineering, construction management, and related support services. Within ENGlobal's Automation segment, ENGlobal Government Services, Inc. provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at www.ENGlobal.com.

Safe Harbor for Forward-Looking Statements

The statements above regarding the Company's expectations, its operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENGlobal's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.

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CONTACT:

Mark A. Hess
Phone: (281) 878-1000
E-mail: ir@ENGlobal.com

Market Makers - Investor Relations
Jimmy Caplan
512-329-9505
Email: jimmycaplan@me.com

Market Makers - Media Relations
Rick Eisenberg
212-496-6828
Email: eiscom@msn.com

SOURCE: ENGlobal

View source version on accesswire.com:
https://www.accesswire.com/619842/ENGlobal-Regains-NASDAQ-Compliance

FAQ

What does ENGlobal's compliance with NASDAQ mean?

ENGlobal's compliance indicates that it meets the minimum bid price requirement necessary for continued listing on the NASDAQ.

When did ENGlobal regain compliance with NASDAQ?

ENGlobal regained compliance as of December 4, 2020.

What was ENGlobal's stock price during the compliance period?

During the compliance period from November 19 to December 3, 2020, ENGlobal's stock price was at or above $1.00.

What is ENGlobal's primary business?

ENGlobal provides engineering and automation services primarily to the energy sector.

What rule did ENGlobal comply with?

ENGlobal complied with NASDAQ Listing Rule 5550(a)(2), which pertains to minimum bid price requirements.