Connexa Sports Technologies Shares Triple After Regaining Nasdaq Compliance

Dow Jones

2024/01/31

By Chris Wack

Connexa Sports Technologies shares tripled, to 68 cents, after Nasdaq confirmed that the company has regained compliance with its minimum shareholder equity rule.

The stock hit its 52-week low of 14 cents last Thursday, and is down 95% in the past 12 months.

The sports technology company recently received an inward investment of $16.5 million from three non-U.S. investors. Connexa received a Nasdaq delisting notice last February.

"Following a period of productive discussions, I am delighted to welcome our three new, non-U.S. investors into the company" said Mike Ballardie, chief executive of Connexa Sports Technologies. "This investment also allows the company to meet the shareholder's equity compliance threshold."

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 31, 2024 10:16 ET (15:16 GMT)

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Connexa received a Nasdaq delisting notice last February. \n\n\n  \"Following a period of productive discussions, I am delighted to welcome our three new, non-U.S. investors into the company\" said Mike Ballardie, chief executive of Connexa Sports Technologies. \"This investment also allows the company to meet the shareholder's equity compliance threshold.\" \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 31, 2024 10:16 ET (15:16 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}