23andMe Regains Compliance With Nasdaq Listing Requirements
23andMe announced it has regained compliance with Nasdaq's listing requirements, specifically the minimum closing bid price requirement under Rule 5550(a)(2) and the majority independent board and committee requirements under Rule 5605. The company's Class A common stock will continue to be listed on The Nasdaq Capital Market under the symbol ME.
23andMe ha annunciato di aver riconquistato la conformità con i requisiti di quotazione del Nasdaq, in particolare il requisito del prezzo di chiusura minimo secondo la Regola 5550(a)(2) e i requisiti relativi a un consiglio indipendente e alla maggioranza nelle commissioni secondo la Regola 5605. Le azioni ordinarie di Classe A dell'azienda continueranno a essere quotate sul The Nasdaq Capital Market con il simbolo ME.
23andMe anunció que ha recuperado el cumplimiento con los requisitos de cotización de Nasdaq, específicamente el requisito del precio mínimo de cierre bajo la Regla 5550(a)(2) y los requisitos de mayoría de consejo independiente y de comités bajo la Regla 5605. Las acciones comunes de Clase A de la empresa continuarán cotizando en el The Nasdaq Capital Market bajo el símbolo ME.
23andMe는 Nasdaq의 상장 요건, 특히 규칙 5550(a)(2)에 따른 최소 종가 요구 사항 및 규칙 5605에 따른 독립 이사 및 위원회 요구 사항에 대한 준수를 복원했다고 발표했습니다. 회사의 A등급 보통주는 ME 기호로 계속해서 The Nasdaq Capital Market에 상장될 것입니다.
23andMe a annoncé qu'elle avait retrouvé la conformité avec les exigences de cotation du Nasdaq, en particulier l'exigence de prix de clôture minimum selon la Règle 5550(a)(2) et les exigences relatives à un conseil d'administration majoritairement indépendant et aux comités selon la Règle 5605. Les actions ordinaires de Classe A de l'entreprise continueront d'être cotées sur le The Nasdaq Capital Market sous le symbole ME.
23andMe hat bekannt gegeben, dass es wieder den Anforderungen der Nasdaq-Listung entspricht, insbesondere dem Mindestschlusskurs gemäß Regel 5550(a)(2) sowie den Anforderungen an einen mehrheitlich unabhängigen Vorstand und Ausschüsse gemäß Regel 5605. Die Class A Stammaktien des Unternehmens werden weiterhin am The Nasdaq Capital Market unter dem Symbol ME notiert sein.
- Regained compliance with Nasdaq listing requirements
- Maintained stock listing on Nasdaq Capital Market
- Resolved both price and governance compliance issues
- Previous non-compliance with Nasdaq requirements indicates recent financial/governance challenges
Insights
Regaining Nasdaq compliance is a critical development for 23andMe, removing an immediate existential threat to the company's public listing status. While this news provides temporary relief, it's important to note that the underlying challenges remain. The stock had previously fallen below
The restoration of compliance doesn't address the fundamental business challenges, but it does eliminate the risk of a forced delisting and maintains the company's access to capital markets. For investors, this represents a stabilizing factor rather than a growth catalyst. The focus should now return to the company's ability to execute its business strategy and achieve profitability.
SUNNYVALE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced that the Company has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2) and the majority independent board and various board committee requirements under Nasdaq Listing Rule 5605. Accordingly, the Company's Class A common stock will continue to be listed on The Nasdaq Capital Market and trade under the symbol “ME”.
About 23andMe
23andMe is a genetics-led consumer healthcare and biopharmaceutical company empowering a healthier future. For more information, please visit www.23andMe.com.
Contact
press@23andme.com
investors@23andme.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “predicts,” “continue,” “will,” “schedule,” and “would” or, in each case, their negative or other variations or comparable terminology, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on 23andMe’s current expectations and projections about future events and various assumptions. 23andMe cannot guarantee that it will actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements and you should not place undue reliance on 23andMe’s forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond the control of 23andMe), or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The statements made herein are made as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to update them, whether as a result of new information, developments, or otherwise.
FAQ
What Nasdaq requirements did 23andMe (ME) regain compliance with in October 2023?
Will 23andMe (ME) continue trading on Nasdaq after regaining compliance?
What specific Nasdaq rules did 23andMe (ME) satisfy to maintain its listing?
