Wearable Devices Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Wearable Devices (Nasdaq: WLDS) has announced that it has regained compliance with Nasdaq's minimum bid price requirement. The company received written notice from Nasdaq confirming compliance with Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. This compliance was achieved after the company's ordinary shares maintained a closing bid price at or above $1.00 for 10 consecutive business days. The previous bid price deficiency matter has been closed by Nasdaq.

Positive

• Regained Nasdaq listing compliance, eliminating immediate delisting risk
• Stock price maintained above $1.00 for 10 consecutive business days

Negative

• Previous trading below $1.00 indicates recent market weakness

YOKNEAM ILLIT, ISRAEL, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company specializing in artificial intelligence (“AI")-powered touchless sensing wearables, today announced that it has received a written notice from Nasdaq Stock Market LLC (“Nasdaq”), indicating that the Company has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities 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 ordinary shares was at $1.00 per share or greater for the last 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed.

About Wearable Devices Ltd.

Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

Investor Relations Contact

Walter Frank
IMS Investor Relations
203.972.9200
wearablesdevices@imsinvestorrelations.com

FAQ

Why did Wearable Devices (WLDS) regain Nasdaq compliance?

Wearable Devices regained Nasdaq compliance because its stock maintained a closing bid price of $1.00 or higher for 10 consecutive business days, meeting Nasdaq Listing Rule 5550(a)(2) requirements.

What is the minimum bid price requirement for WLDS on Nasdaq?

The minimum bid price requirement for WLDS on Nasdaq is $1.00 per share, as per Nasdaq Listing Rule 5550(a)(2).

When did WLDS announce regaining Nasdaq compliance?

Wearable Devices (WLDS) announced regaining Nasdaq compliance on October 28, 2024.