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Skycorp Solar Group Ltd (NASDAQ:SKYC) announced Monday it received a notice from the Nasdaq Listing Qualifications Department indicating that its Class A ordinary shares did not meet the $1.00 minimum bid price requirement for continued listing on the Nasdaq Stock Market. The notice was issued on October 30, following 30 consecutive business days during which the company’s shares closed below the $1.00 threshold.
According to a statement based on a recent SEC filing, Skycorp Solar Group has been granted an initial compliance period of 180 calendar days, until April 28, 2026, to regain compliance with the minimum bid price rule. To resolve the deficiency, the company’s shares must close at or above $1.00 per share for at least 10 consecutive business days before the compliance deadline. If this is achieved, Nasdaq will provide written confirmation of compliance and the matter will be closed.
If Skycorp Solar Group does not regain compliance by April 28, 2026, it may be eligible for an additional 180-day period to meet the requirement, provided it continues to satisfy other listing standards for the Nasdaq Capital Market, except for the minimum bid price. To qualify for this extension, the company must also notify Nasdaq of its intention to cure the deficiency, which may include a reverse stock split if necessary.
Should the company fail to regain compliance within the allotted timeframes or not qualify for the extension, Nasdaq may initiate delisting procedures for the company’s Class A ordinary shares. In such an event, Skycorp Solar Group would have the opportunity to appeal the determination to a Hearings Panel.
The company stated that receipt of the notice has no immediate effect on its business operations. The information is based on a press release statement included in the company’s SEC filing.
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