Assure Holdings Regains Compliance with NASDAQ Continued Listing Requirements

Rhea-AI Summary

Assure Holdings Corp. (NASDAQ: IONM) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, confirmed on March 20, 2023. The company previously faced non-compliance notification from Nasdaq on October 11, 2022, due to its stock trading below the required price for over 30 consecutive days. However, the stock's closing bid price met compliance criteria for 10 consecutive business days before the confirmation. Assure specializes in intraoperative neuromonitoring and remote neurology services, ensuring patient safety during surgeries. It is accredited by The Joint Commission, aiming to deliver exceptional surgical care.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Stock closed at or above $1.00 for 10 consecutive days prior to the confirmation.
• Accredited by The Joint Commission, enhancing credibility.

Negative

• None.

DENVER, March 24, 2023 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (the “Company” or “Assure”) (NASDAQ: IONM), a provider of intraoperative neuromonitoring (“IONM”) and remote neurology services, today announced that the company has received confirmation from The Nasdaq Stock Market LLC (“Nasdaq”) that it has regained compliance with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2) and currently meets all other applicable criteria for continued listing.

On October 11, 2022, Staff notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. On March 20, 2023, Staff notified the company that for the last 10 consecutive business days, from March 6 to March 17, 2023, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. Accordingly, Staff concurrently determined that the Company has regained compliance with Listing Rule 5550(a)(2) and has deemed this matter closed.

About Assure Holdings

Assure Holdings Corp. is a best-in-class provider of outsourced intraoperative neuromonitoring and remote neurology services. The Company delivers a turnkey suite of clinical and operational services to support surgeons and medical facilities during invasive procedures that place the nervous system at risk including neurosurgery, spine, cardiovascular, orthopedic and ear, nose and throat surgeries. Assure employs highly trained technologists that provide a direct point of contact in the operating room. Physicians employed through Assure subsidiaries simultaneously monitor the functional integrity of patients’ neural structures throughout the procedure communicating in real-time with the surgeon and technologist. Accredited by The Joint Commission, Assure’s mission is to provide exceptional surgical care and a positive patient experience. For more information, visit the company’s website at www.assureneuromonitoring.com.

Forward-Looking Statements

This news release may contain “forward-looking statements” within the meaning of applicable securities laws, including, but not limited to comments with respect to: our ability to reduce our cost of delivery and achieve profitability. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and business, its remote neurology business, and economic activity in general; and risks and uncertainties discussed in our most recent annual and quarterly reports filed with the United States Securities and Exchange Commission, including our annual report on Form 10-K filed on March 14, 2022, and available on the Company’s EDGAR profile at www.sec.gov, which risks and uncertainties are incorporated herein by reference. Except as required by law, Assure does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

Investor Contact
Brett Maas, Managing Principal, Hayden IR
ionm@haydenir.com
(646) 536-7331

FAQ

When did Assure Holdings regain compliance with Nasdaq requirements?

Assure Holdings regained compliance with Nasdaq's minimum bid price requirement on March 20, 2023.

What is the minimum bid price requirement for Assure Holdings?

The minimum bid price requirement for Assure Holdings is $1.00 per share as per Nasdaq Listing Rule 5550(a)(2).

How long did Assure's stock trade below the compliance price?

Assure's stock traded below the compliance price for over 30 consecutive business days prior to October 11, 2022.

What services does Assure Holdings provide?

Assure Holdings provides intraoperative neuromonitoring and remote neurology services during invasive surgeries.