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Troops, Inc. (NASDAQ:TROO) announced it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Stock Market. The company disclosed in a press release statement that on September 18, it received formal notification from Nasdaq that the previous bid price deficiency matter is now closed.
According to the filing, Troops had been notified on May 1 that its ordinary shares had failed to maintain a minimum closing bid price of $1.00 per share, as required by Nasdaq Listing Rule 5550(a)(2), for the period from March 18 to April 30.
Nasdaq determined that Troops regained compliance after the closing bid price of its ordinary shares was at or above $1.00 per share for 17 consecutive business days, from August 25 to September 16.
The company stated that it considers the matter resolved following Nasdaq’s confirmation. This information is based on a statement included in a recent SEC filing.
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