Neptune Granted 180-Day Extension to Meet Nasdaq Minimum Bid Requirement
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) announced on March 1, 2022, that it received a 180-day extension from Nasdaq to meet the minimum bid requirement of $1.00 per share. The deadline for compliance is now August 29, 2022. This extension allows the stock to continue trading on the Nasdaq Capital Market without immediate effect on its listing. If the stock closes at or above $1.00 for 10 consecutive trading days by the deadline, the company will regain compliance with Nasdaq rules. Neptune was previously notified of its non-compliance on August 30, 2021.
- Received a 180-day extension to meet Nasdaq's minimum bid price requirement.
- Stock continues to trade on the Nasdaq Capital Market without immediate delisting risk.
- Failed to maintain a minimum bid price of $1.00 for over 30 consecutive trading days prior to the extension request.
LAVAL, QC, March 2, 2022 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that on March 1, 2022, the Company received a 180 calendar day extension from Nasdaq's Listing Qualification Department to meet Nasdaq's minimum bid requirement. The Company now has until August 29, 2022 to maintain a minimum bid of
This current notification from Nasdaq has no immediate effect on the listing or trading of the Company's common stock, which will continue to trade on the Nasdaq Capital Market under the symbol "NEPT."
If at any time until August 29, 2022, the bid price of the Company's common stock closes at or above
The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of
About Neptune Wellness Solutions Inc.
Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness. Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: https://neptunewellness.com/.
Disclaimer – Safe Harbor Forward–Looking Statements
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Neptune Wellness Solutions to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Neptune Wellness Solutions Inc.
FAQ
What is the current status of NEPT's listing on Nasdaq?
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