- Neovasc (NVCN) received notification from NASDAQ that it is not in compliance with its minimum bid price requirement
- Nasdaq requires listed securities to maintain a minimum bid price of US$1.00 per share
- Neovasc has until November 22, 2021, to regain compliance with the Nasdaq minimum bid requirement
- In the event Neovasc does not regain compliance by November 22, 2021, the company may receive an extension or face delisting
- The company’s business operations are not affected by the receipt of the Notification Letter, nor does it impact Neovasc’s listing on the TSE
- Neovasc is a specialty medical device company
- Neovasc (NVCN) ended the day at US$0.81 on the Nasdaq
Neovasc (NVCN) has received written notification from NASDAQ that it is not in compliance with its minimum bid price requirement.
Nasdaq requires listed securities to maintain a minimum bid price of US$1.00 per share, and that failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
Based on the closing bid price of Neovasc’s common shares for the 30 consecutive business days from April 12, 2021, to May 21, 2021, the company no longer meets the minimum bid price requirement.
The notification does not impact the company’s listing on the Nasdaq Capital Market at this time. Neovasc has until November 22, 2021, to regain compliance with the Nasdaq minimum bid requirement. To regain compliance, the company’s common shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days.
In the event Neovasc does not regain compliance by November 22, 2021, the company may receive an extension or face delisting.
The company’s business operations are not affected by the receipt of the Notification Letter, nor does it impact Neovasc’s listing on the TSE.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the cardiovascular marketplace.
Neovasc (NVCN) is down 2 per cent, trading at C$0.98 on the TSE.
Neovasc (NVCN) ended the day at US$0.81 on the Nasdaq.
