Summary by Moomoo AI
ParaZero Technologies Ltd., an aerospace company specializing in drone safety systems, has received an extension from The Nasdaq Stock Market LLC to meet the minimum bid price requirement. The company, which is listed under the ticker PRZO on Nasdaq, was initially notified of its non-compliance with the $1 minimum bid price per share rule on February 8, 2024. Despite not achieving compliance within the first 180-day period, ParaZero submitted a request for an additional 180 days. Nasdaq has granted this extension, giving the company until February 3, 2025, to meet the requirement. ParaZero will regain compliance if its share price closes at or above $1 for at least 10 consecutive trading days before the deadline. The announcement was made on August 9, 2024, and is also incorporated into ParaZero's Registration Statement on Form S-8 with the SEC.
