Neovasc Regains NASDAQ Compliance
Neovasc Inc. (NASDAQ: NVCN) announced today that the Company has regained compliance with the listing requirements of The NASDAQ Stock Market LLC ("Nasdaq").
As previously reported, on July 5, 2016, Neovasc received a letter from Nasdaq notifying the Company that it was not in compliance with the minimum bid price requirement set forth in the Nasdaq Rules for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
On December 19, 2016, Neovasc received notification from Nasdaq stating that since the closing bid price of the Company's common shares had been greater than US$1.00 per share for the last 10 consecutive business days, from December 5, 2016 to December 16, 2016, Neovasc was in compliance with Listing Rule 5550(a)(2) and this matter is now closed.
As previously reported, on July 5, 2016, Neovasc received a letter from Nasdaq notifying the Company that it was not in compliance with the minimum bid price requirement set forth in the Nasdaq Rules for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
On December 19, 2016, Neovasc received notification from Nasdaq stating that since the closing bid price of the Company's common shares had been greater than US$1.00 per share for the last 10 consecutive business days, from December 5, 2016 to December 16, 2016, Neovasc was in compliance with Listing Rule 5550(a)(2) and this matter is now closed.