Summary by Moomoo AI
Netcapital Inc., a Utah-based corporation, has successfully regained compliance with the Nasdaq Listing Rule 5550(a)(2), also known as the Bid Price Rule, as of August 19, 2024. The company's common stock closed at or above the minimum bid price of $1.00 per share for at least 10 consecutive business days starting from August 2, 2024. This achievement follows a previous notification from Nasdaq on September 1, 2023, indicating that Netcapital was not in compliance due to its failure to maintain the minimum bid price for 30 consecutive business days. Additionally, on July 22, 2024, Nasdaq had considered delisting the company's securities after the closing bid price fell to $0.10 or less for ten consecutive trading days. Netcapital had requested a hearing to appeal the delisting decision, but the hearing was canceled as the company has now met the continued listing requirements. The company's CEO, Martin Kay, signed off on the report confirming the regained compliance.
