KindlyMD faces Nasdaq delisting, fails to meet minimum share price levels
The post KindlyMD faces Nasdaq delisting, fails to meet minimum share price levels appeared on BitcoinEthereumNews.com.
KindlyMD Inc., the Utah-based healthcare company turned Bitcoin treasury asset, is facing the risk of being delisted from the Nasdaq exchange after its shares failed to meet the minimum price requirement of $1 over the last month. The company, which trades under the ticker NAKA, disclosed in a regulatory filing dated December 12 that its stock has closed below the $1 threshold for 30 consecutive trading days. That failure led to a formal notice from Nasdaq warning that the company is no longer in compliance with listing standards. KindlyMD’s shares were changing hands at $0.38 before the US market’s Tuesday open, extending its loss streak from its May $35 high. The company’s shares have traded as low as $ 0.36 over the past year, after tanking below $1 for the first time this year in October. Nasdaq warns KindlyMD amid bleak stock performance According to Nasdaq’s compliance deadline and delisting risk rules, companies have a defined period to cure a price deficiency before proceedings advance. KindlyMD now has 180 calendar days to regain compliance by lifting its closing bid price to at least $1 for a minimum of 10 consecutive business days. That compliance window expires on June 8, next year, and the stock exchange retains discretion to require the company to hold that price level for up to 20 straight trading sessions before confirming compliance has been restored. If the stock fails to meet the threshold within that period, the company can exercise its clause for additional time by applying to transfer its listing to the Nasdaq Capital Market. That option would require a formal application, a $5,000 fee, and confirmation that the firm meets all other continued listing standards, alongside the bid price rule. KindlyMD would also need to formally notify Nasdaq that it plans to fix the…
