Nasdaq Moves to Delist Actelis Networks for Bid Price Rule Violation

Reuters
Feb 07
Nasdaq Moves to Delist <a href="https://laohu8.com/S/ASNS">Actelis Networks</a> for Bid Price Rule Violation

Actelis Networks Inc. is facing potential delisting from the Nasdaq Capital Market after receiving notice from the Nasdaq Listing Qualifications Department. The action follows the company's failure to maintain a minimum bid price of 1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Although companies are typically granted a 180-day compliance period, Actelis Networks is ineligible due to a recent 1-for-10 reverse stock split carried out within the past year, as outlined in Nasdaq Listing Rule 5810(c)(A)$(iv). The company plans to request a hearing to appeal the decision, which would temporarily halt any suspension or delisting actions pending the outcome.

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