Bullish indicating open at $55-$60, IPO prices at $37
BloomZ Inc. (NASDAQ:BLOOMZ) announced that it has been granted a second 180-day extension by the Nasdaq Listing Qualifications Staff to comply with the minimum $1.00 per share bid price requirement. This extension gives the company until December 1, 2025, to meet the criteria necessary for continued listing on the Nasdaq Capital Market.
The company initially received notification on December 2, 2024, that it had fallen below the required bid price under Nasdaq Listing Rule 5550(a)(2). BloomZ was initially given until June 2, 2025, to regain compliance but was unable to meet the requirement within this timeframe.
The Nasdaq staff determined that BloomZ is eligible for an additional compliance period. This decision was based on the company’s fulfillment of other continued listing requirements, including the market value of publicly held shares, aside from the bid price rule. BloomZ has indicated its intention to regain compliance, potentially through a reverse stock split if necessary.
To achieve compliance, BloomZ must ensure that its common stock closes at or above $1.00 per share for a minimum of ten consecutive business days before the December deadline. If the company fails to meet this requirement, it will receive a notice of delisting but will have the opportunity to appeal the decision to a Nasdaq Hearings Panel.
BloomZ has stated its commitment to actively monitor its stock price and explore all available options to meet the Nasdaq listing standards. This information is based on a press release from the company.
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