Kopin Corporation Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Kopin (KOPN), a provider of optical systems and microdisplays, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received confirmation from Nasdaq that its common stock maintained a closing bid price of $1.00 or higher for 10 consecutive business days, meeting the continued listing requirements for the Nasdaq Capital Market under Rule 5550(a)(2).

Positive

• Regained Nasdaq listing compliance, eliminating immediate delisting risk
• Stock price sustained above $1.00 for 10 consecutive trading days

Negative

• Previous trading below $1.00 indicates recent financial/market challenges

Insights

Financial Analyst

Regaining Nasdaq compliance is a significant milestone that removes a key regulatory overhang for Kopin While this development doesn't directly impact the company's operational performance, it eliminates the risk of delisting and potential negative consequences such as reduced liquidity, institutional investment restrictions and access to capital markets.

The sustained trading above $1.00 per share suggests improved market confidence, though it's worth noting this was achieved without any reverse stock split - a method often used by companies facing similar situations. The microdisplay maker's ability to naturally recover its share price indicates some level of organic market support, which is particularly relevant given its position in growing markets like AR/VR and defense applications.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (Nasdaq: KOPN), a leading provider of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced that it has received a letter from The Nasdaq Stock Market (“Nasdaq”) informing that Kopin Corporation (Kopin) has regained compliance with Nasdaq’s minimum bid price for continued listing on the Nasdaq Capital Market set forth in Nasdaq Listing Rule 5550(a)(2) (“Minimum Bid Price Requirement”).

According to Nasdaq’s letter, Nasdaq had determined that for 10 consecutive business days, the closing bid price of the Kopin’s common stock has been at $1.00 per share or greater. Accordingly, Kopin has regained compliance with the Minimum Bid Price Requirement.

About Kopin

Kopin Corporation is a leading developer and provider of high-performance application-specific optical solutions consisting of high-resolution microdisplays, microdisplays subassemblies and related components for defense, enterprise, industrial, and consumer products. Our products are used for soldier, avionic, armored vehicle, and training & simulation defense applications; industrial, public safety and medical headsets; 3D optical inspection systems; and consumer augmented reality (“AR”) and virtual reality (“VR”) wearable headsets systems. For more information, please visit Kopin’s website at www.kopin.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20241210936497/en/

For Investor Relations

Kopin Corporation

Richard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

rsneider@kopin.com

MZ Contact

Brian M. Prenoveau, CFA

MZ Group – MZ North America

KOPN@mzgroup.us

+561 489 5315

Source: Kopin Corporation

FAQ

What was Kopin's (KOPN) Nasdaq compliance status announcement?

Kopin (KOPN) announced it regained compliance with Nasdaq's minimum bid price requirement after maintaining a closing bid price of $1.00 or higher for 10 consecutive business days.

What is the minimum bid price requirement for Kopin (KOPN) on Nasdaq?

The minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) requires Kopin's stock to maintain a minimum closing bid price of $1.00 per share.

How did Kopin (KOPN) regain Nasdaq compliance?

Kopin regained compliance by maintaining its stock price at $1.00 or above for 10 consecutive business days, as confirmed by Nasdaq.