SuperCom Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

SuperCom (NASDAQ: SPCB), a global provider of secured solutions for e-Government, IoT, and Cybersecurity sectors, has regained compliance with Nasdaq's minimum bid price requirement. The company received notice from Nasdaq that it has met the $1.00 per share minimum for 10 consecutive business days from August 22 through September 5, 2024. This resolves the non-compliance issue initially reported on September 13, 2023, when SPCB failed to maintain the required minimum bid price. Nasdaq has confirmed that the matter is now closed, ensuring SuperCom's continued listing on the Nasdaq Capital Market.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement
• Maintained closing bid price of $1.00 or greater for 10 consecutive business days
• Resolved potential delisting threat from Nasdaq Capital Market

Negative

• None.

NEW YORK, Sept. 16, 2024 /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"), and this matter is now closed.

On September 13, 2023, 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 September 6, 2024, Nasdaq determined that for the last 10 consecutive business days, from August 22 through September 5, 2024, 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, and domestic violence prevention. For more information, please visit SuperCom's website: www.supercom.com

SuperCom Investor Relations:
ir@supercom.com

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

View original content:https://www.prnewswire.com/news-releases/supercom-regains-compliance-with-nasdaq-minimum-bid-price-requirement-302249100.html

SOURCE SuperCom

FAQ

What was SuperCom's (SPCB) compliance issue with Nasdaq?

SuperCom (SPCB) failed to maintain a minimum bid price of $1.00 over 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).

How did SuperCom (SPCB) regain compliance with Nasdaq's minimum bid price requirement?

SuperCom (SPCB) maintained a closing bid price of $1.00 or greater for 10 consecutive business days from August 22 through September 5, 2024.

When did Nasdaq notify SuperCom (SPCB) about regaining compliance?

Nasdaq notified SuperCom (SPCB) on September 6, 2024, that it had regained compliance with the minimum bid price requirement.

What is the current status of SuperCom's (SPCB) listing on Nasdaq?

SuperCom (SPCB) has regained compliance with Nasdaq's minimum bid price requirement, and Nasdaq considers the matter closed, ensuring continued listing on the Nasdaq Capital Market.