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Newegg Regains Compliance with Nasdaq Minimum Bid Requirements
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Newegg Commerce, Inc. (NASDAQ: NEGG) has received a notification letter from Nasdaq confirming compliance with the minimum bid price requirement, closing the listing matter.
Positive
None.
Negative
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CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--
Newegg Commerce, Inc. (NASDAQ: NEGG) (the “Company” or “Newegg”) today announced that it has received a notification letter (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Capital Market notifying the Company that it had regained compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2) (the “Nasdaq Minimum Bid Price Requirement”).
The Notification Letter confirmed that the Company evidenced a closing bid price at or greater than the $1.00 per ordinary share minimum requirement for the last 10 consecutive business days from November 28, 2023 to December 11, 2023 and that the Company has regained compliance with the Nasdaq Minimum Bid Price Requirement. As a result, the listing matter has been closed.
About Newegg
Newegg Commerce, Inc., founded in 2001 and based in the City of Industry, California, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg also serves businesses’ e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit Newegg.com.
What is the company name and ticker symbol of the business receiving the notification letter from Nasdaq?
The company is Newegg Commerce, Inc. and its ticker symbol is NASDAQ: NEGG.
What was the notification letter from Nasdaq regarding?
The notification letter confirmed that Newegg Commerce, Inc. has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
What is the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2)?
The minimum bid price requirement is $1.00 per ordinary share for the last 10 consecutive business days.
What was the closing bid price requirement for Newegg Commerce, Inc. to regain compliance?
The company needed to evidence a closing bid price at or greater than $1.00 per ordinary share for the last 10 consecutive business days.
What was the duration of the compliance with the Nasdaq Minimum Bid Price Requirement?
The compliance was evidenced from November 28, 2023, to December 11, 2023.
What is the impact of regaining compliance with the Nasdaq Minimum Bid Price Requirement?
The listing matter has been closed, indicating a positive outcome for Newegg Commerce, Inc.
