SuperCom (NASDAQ: SPCB ), a global provider of secured solutions for the e-Government, IoT and Cybersecurity sectors, announced that it has received notice from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq’s minimum bid price for continued listing on the Nasdaq Capital Market set forth in Nasdaq Listing Rule 5550(a)(2) (“Min Bid Price Rule”).
On October 19, 2020, Nasdaq notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. On December 29, 2020, Supercom received a letter from Nasdaq stating that because the Company’s common stock had a closing bid price at $1.00 per share or greater for the last twenty (20) consecutive business days, the Company has regained compliance compliance with the Min Bid Price Rule. Nasdaq considers the matter now closed.
