SuperCom Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. On October 19, 2020, Nasdaq notified the company of a failure to maintain a minimum bid price of $1.00 over 30 consecutive business days. However, as of December 29, 2020, SuperCom's stock closed at or above $1.00 for twenty consecutive business days, resolving the compliance issue.

Positive

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

Negative

• None.

NEW YORK, Dec. 30, 2020 /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 October 19, 2020, 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 29, 2020, Supercom received a letter from Nasdaq stating that because the Company's common stock had a closing bid price at $1.00 per share or greater for the last twenty (20) consecutive business days, the Company has regained compliance compliance with the Min Bid Price Rule. Nasdaq considers the 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.

SuperCom's website is http://www.supercom.com 

SuperCom Corporate Contact:
Ordan Trabelsi, President Americas
Tel: +1 212 466 4606
ordan@supercom.com

 

View original content:http://www.prnewswire.com/news-releases/supercom-regains-compliance-with-nasdaq-minimum-bid-price-requirement-301199419.html

SOURCE SuperCom Ltd

FAQ

What is the recent compliance status of SuperCom (SPCB) with Nasdaq?

SuperCom (SPCB) has regained compliance with Nasdaq's minimum bid price requirement as of December 29, 2020.

When did SuperCom (SPCB) receive notice of non-compliance from Nasdaq?

SuperCom received notice of non-compliance from Nasdaq on October 19, 2020.

What was the minimum bid price requirement for SuperCom (SPCB) by Nasdaq?

The minimum bid price requirement set by Nasdaq for SuperCom (SPCB) was $1.00 per share.

How long did SuperCom (SPCB) need to maintain the minimum bid price to regain compliance?

SuperCom needed to maintain the minimum bid price of $1.00 for twenty consecutive business days to regain compliance.