Sunshine Heart (SSH) Receives Additional Nasdaq Listing Notification
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Sunshine Heart, Inc. (NYSE: SSH) announced that on November 11, 2016, the Company received a letter from the Nasdaq Listing Qualifications Staff indicating that the Company no longer satisfied the minimum $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market based upon the Company’s stockholders’ equity of $2.46 million as of September 30, 2016. The Company recently attended a hearing before the Nasdaq Hearings Panel, at which hearing the Company presented its plan to evidence compliance with both the $1.00 bid price and $2.5 million stockholders’ equity requirements and requested an extension of time within which to do so. The Panel has not yet issued its determination in response to the Company’s request. The Company is diligently working to demonstrate compliance with all requirements for continued listing on The Nasdaq Capital Market, and will provide an update regarding the Nasdaq process when relevant information becomes available.
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