News

27 October 2010

 

Emcore regains compliance with NASDAQ minimum bid price rule

Emcore Corp of Albuquerque, NM, USA, which makes components, subsystems and systems for the fiber-optic and solar power markets, has received notification from the NASDAQ Stock Market that it has regained compliance with the minimum $1 bid price requirement set forth in NASDAQ Listing Rule 5450(a)(1).

On 23 September, Emcore was notified by NASDAQ that the minimum bid price of its common stock had been below $1 per share for 30 consecutive business days and, as a result, it is not in compliance with the requirement.

Under NASDAQ Listing Rule 5810(c)(3)(A), Emcore was given a grace period of 180 calendar days (until 22 March 2011) during which to regain compliance by maintaining the closing bid price of its common stock equal to or above $1 per share for a minimum of 10 consecutive trading days. 

The firm’s bid price has now achieved this, so its non-compliance with the requirement has therefore been rectified.

See related items:

Emcore regains compliance with NASDAQ Listing Rule

Emcore receives NASDAQ warning for sub-$1 share price

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