Aspire Biopharma Faces Nasdaq Delisting After Compliance Failures
Reuters
Oct 18
Aspire Biopharma Faces Nasdaq Delisting After Compliance Failures
Aspire Biopharma Holdings Inc. has announced that it received a notice from the Nasdaq Stock Market LLC regarding its failure to comply with two key listing requirements: the minimum Market Value of Listed Securities (MVLS) of $50 million and the minimum bid price rule. The company did not regain compliance within the designated 180-day period, leading Nasdaq staff to notify Aspire that its securities are subject to delisting. Aspire has requested a hearing before the Nasdaq Hearings Panel, which temporarily stays the suspension of its common stock and warrants. The company will present its plan to regain compliance and seek an extension, but there is no assurance that continued listing will be granted or that compliance will be achieved in the allotted time.
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