Cardio Diagnostics regains compliance with Nasdaq

Cardio Diagnostics (CDIO) announced that it received a notification letter from Nasdaq notifying the company that it had regained compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq. The Nasdaq staff made this determination of compliance after the closing bid price of the company’s common stock traded above $1.00 per share from May 13, the date immediately following the company’s 1:30 reverse stock split having gone effective, through May 27. Accordingly, Nasdaq determined that the company has regained compliance with Nasdaq’s Minimum Bid Requirement, and that Nasdaq considered the matter closed.