RiceBran Technologies Regains Compliance with Nasdaq Bid Price Rule

Rhea-AI Summary

RiceBran Technologies (NASDAQ:RIBT) has successfully regained compliance with Nasdaq's Listing Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share. This determination follows a period where the company's stock maintained the required price for 10 consecutive business days. Nasdaq had previously notified RiceBran of its non-compliance in July 2020, granting a 180-day extension to meet the requirements. The company achieved compliance ahead of the July 26, 2021 deadline due to favorable market conditions.

Positive

• Successfully regained compliance with Nasdaq's Listing Rule 5550(a)(2).
• Stock maintained a minimum bid price of $1.00 for 10 consecutive business days.

Negative

• None.

THE WOODLANDS, TX / ACCESSWIRE / February 19, 2021 / RiceBran Technologies (NASDAQ:RIBT), a global leader in the production and marketing of value-added products derived from rice bran and a producer of rice, rice co-product, and barley and oat products, received formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company's common stock to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's common stock was at $1.00 per share or greater for the prior 10 consecutive business days.

Nasdaq had previously notified the Company of its non-compliance with Listing Rule 5550(a)(2) on July 27, 2020. In accordance with its Listing Rules, Nasdaq afforded the Company 180 calendar days to regain compliance. On January 26, 2021, the Company received a 180-day extension from the Nasdaq to meet continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive business days. The Company had until July 26, 2021 to meet Nasdaq's Minimum Bid Rule. Prior to the expiration of the compliance period, the Company successfully regained compliance with the listing standard as a result of favorable market conditions.

About RiceBran Technologies

RiceBran Technologies is a global leader in the production and marketing of value-added products derived from rice bran as well as a producer of rice, rice co-product, and barley and oat products. The target markets for our products include food and animal nutrition manufacturers and retailers, as well as specialty food, functional food and nutritional supplement manufacturers and retailers. Our highly nutritious and clean label ingredient products derived from rice bran, one of the world's most underutilized food sources, are produced utilizing our proprietary and patented stabilization technology. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.ricebrantech.com.

Investor Relations Contact:
Rob Fink / Matt Chesler
FNK IR
ribt@fnkir.com
646.809.4048/ 646.809.2183

SOURCE: RiceBran Technologies

View source version on accesswire.com:
https://www.accesswire.com/630694/RiceBran-Technologies-Regains-Compliance-with-Nasdaq-Bid-Price-Rule

FAQ

What does it mean for RIBT to regain compliance with Nasdaq's Listing Rule 5550(a)(2)?

Regaining compliance means RiceBran Technologies' stock price has remained above $1.00 for 10 consecutive business days, meeting Nasdaq's listing requirements.

When did RiceBran Technologies receive notification of its non-compliance with Nasdaq rules?

RiceBran received notification of its non-compliance on July 27, 2020.

What was the deadline for RiceBran Technologies to regain compliance with Nasdaq's listing requirements?

The deadline for RiceBran to regain compliance was July 26, 2021.

What stock symbol is associated with RiceBran Technologies?

The stock symbol for RiceBran Technologies is RIBT.

What factors contributed to RiceBran's compliance with Nasdaq's Minimum Bid Rule?

Compliance was achieved due to favorable market conditions that allowed the stock to maintain the minimum bid price.