Hudson Technologies Regains Compliance With Nasdaq Minimum Closing Bid Price Rule

Rhea-AI Summary

Hudson Technologies, Inc. (NASDAQ: HDSN) has received a Compliance Letter from Nasdaq confirming that its common stock's closing bid price has exceeded $1.00 per share for ten consecutive business days. This regulatory compliance reinstates the company’s adherence to Nasdaq Listing Rule 5550(a)(2), resolving the previous bid price deficiency issue. Further details regarding this compliance can be found in an upcoming Form 8-K filing with the Securities and Exchange Commission.

Positive

• Hudson regained compliance with Nasdaq Listing Rule 5550(a)(2).
• The closing bid price of HDSN shares has remained above $1.00 for ten consecutive business days.

Negative

• None.

PEARL RIVER, N.Y., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) today announced that it received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the closing bid price of the Company’s common stock has been at $1.00 per share or greater for ten consecutive business days (the “Compliance Letter”).  Accordingly, Hudson has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed.

Additional details regarding the Compliance Letter can be found in the Form 8-K to be filed with the Securities and Exchange Commission.

About Hudson Technologies                                       

Hudson Technologies, Inc. is a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems. Hudson's proprietary RefrigerantSide^® Services increase operating efficiency, provide energy and cost savings, reduce greenhouse gas emissions and the plant’s carbon footprint while enhancing system life and reliability of operations at the same time. RefrigerantSide^® Services can be performed at a customer's site as an integral part of an effective scheduled maintenance program or in response to emergencies. Hudson also offers SMARTenergy OPS^®, which is a cloud-based Managed Software as a Service for continuous monitoring, Fault Detection and Diagnostics and real-time optimization of chilled water plants. In addition, the Company sells refrigerants and provides traditional reclamation services for commercial and industrial air conditioning and refrigeration uses. For further information on Hudson, please visit the Company's web site at www.hudsontech.com. 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under existing credit facilities, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, the impact of the current COVID-19 pandemic, and other risks detailed in the Company's 10-K for the year ended December 31, 2019 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
  

Investor Relations Contact: John Nesbett/Jennifer Belodeau IMS Investor Relations (203) 972-9200 jnesbett@institutionalms.com

Company Contact: Brian F. Coleman, President & CEO Hudson Technologies, Inc. (845) 735-6000 bcoleman@hudsontech.com

FAQ

What did Hudson Technologies announce on August 11, 2020 regarding its stock price?

On August 11, 2020, Hudson Technologies announced that it received a Compliance Letter from Nasdaq stating its stock price has been above $1.00 for ten consecutive business days.

How does the Compliance Letter affect HDSN's stock listing?

The Compliance Letter indicates that Hudson Technologies has regained compliance with Nasdaq Listing Rule 5550(a)(2), resolving the prior deficiency issue.

Where can I find more details about the Compliance Letter for HDSN?

Additional details regarding the Compliance Letter will be included in a Form 8-K to be filed with the Securities and Exchange Commission.