SuperCom Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) has announced that it has regained compliance with Nasdaq's minimum bid price requirement. This follows a notice received on December 13, 2021, when Nasdaq indicated that SPCB's stock did not meet the minimum bid price of $1.00 for 30 consecutive business days. As of December 8, 2022, the stock's closing price met the requirement for ten consecutive days, resolving the compliance issue.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Stock price maintained above $1.00 for ten consecutive business days.

Negative

• None.

NEW YORK, Dec. 12, 2022 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, announced that it has received notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company 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) ("Min Bid Price Rule").

On December 13, 2021, Nasdaq notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market.

On December 8, 2022, Nasdaq determined that for the last 10 consecutive business days, from November 23^rd through December 7, 2022, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2)("Min Bid Price Rule"), and Nasdaq considers this matter now closed.

About SuperCom

Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation. For more information, visit www.supercom.com.

Logo -  https://mma.prnewswire.com/media/1717536/SuperCom_Logo.jpg

Contact:

Kirin M. Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com

 

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SOURCE SuperCom Ltd.

FAQ

What does SuperCom's compliance with Nasdaq mean for SPCB shareholders?

SuperCom's compliance with Nasdaq's minimum bid price requirement ensures that its shares will continue to be listed on the Nasdaq Capital Market, which is beneficial for SPCB shareholders.

When did SuperCom fail to meet Nasdaq's minimum bid price requirement?

SuperCom was notified on December 13, 2021, that its stock failed to maintain a minimum bid price of $1.00.

How long did SuperCom exceed the minimum bid price requirement?

SuperCom's stock price exceeded the minimum bid price requirement for ten consecutive business days, from November 23 to December 7, 2022.

What is the minimum bid price rule for Nasdaq?

The Nasdaq minimum bid price rule requires companies to maintain a minimum bid price of $1.00 per share over a specified period to remain listed.