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Nvni Group Limited Receives Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

GlobeNewswire LogoGlobeNewswire12h ago

Nvni Group Limited Receives Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency - GlobeNewswire

Quick Summary:

NEW YORK, Nov.07, 2024 (GLOBE NEWSWIRE) -- Nvni Group Limited (Nasdaq: NVNI) ("Nuvini”) received a notification letter on November 1, 2024, from Nasdaq’s Listing Qualifications Department, indicating the Company’s minimum bid price per share had been below $1.00 for 30 consecutive business days, failing to meet Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement”).

If compliance is not regained by April 30, 2025, the Company may qualify for an additional 180-day grace period by meeting market value and other initial listing standards, excluding the bid price requirement, and notifying Nasdaq of plans to address the deficiency, such as a reverse stock split.

Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has until April 30, 2025, to regain compliance by achieving a $1.00 closing bid price for 10 consecutive business days.

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Article Details

Author / Journalist: Nvni Group Limited

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 22:30:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 231 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 23465521

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Update Frequency: 99 posts per day

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News Last Updated: 12 hours ago

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Publisher ID: #116

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