Rapid Micro Biosystems (RPID) has released an update to notify the public and investors about listing compliance status.
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Rapid Micro Biosystems, Inc. has been notified by Nasdaq that its stock price has fallen below the minimum bid price requirement and is not in compliance with Nasdaq Listing Rule 5450(a)(1). The company has 180 days, until July 31, 2024, to regain compliance by maintaining a closing bid price of $1.00 or more for at least ten consecutive business days. Failure to achieve compliance by the deadline may lead to delisting, though the company may be granted an additional 180-day period if it meets certain conditions and transfers to the Nasdaq Capital Market. The company plans to take measures to regain compliance but cannot guarantee success.
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For a comprehensive understanding of the announcement, you can read the full document here.
