NanoVibronix (NAOV) Regains Nasdaq Compliance

February 3, 2021 8:04 AM EST
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NanoVibronix, Inc., (NASDAQ: NAOV), a medical device company that produces the UroShield® and PainShield® Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it received notice from the Nasdaq Listing Qualification Office of The Nasdaq Stock Market LLC ("Nasdaq") on February 2, 2021 that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (“Min Bid Price Listing Rule”).

In addition, on January 4, 2021 the company received notice from Nasdaq that it has regained compliance with the equity requirement under Nasdaq Listing Rule 5550(b)(1).

As previously disclosed:

On November 5, 2020, the company received a letter from the Nasdaq indicating that, based upon the closing bid price of the company’s common stock for the 30 consecutive business day period between September 24, 2020, through November 4, 2020, the company did not meet the minimum bid price of $1.00 per share required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that the company will be provided with a compliance period of 180 calendar days, or until May 4, 2021 (the “Compliance Period”), in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).

On August 5, 2020, the Company received notice from the Listing Qualifications Staff of the Nasdaq Stock Market LLC indicating that the Company no longer satisfied the Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2.5 million for continued listing on Nasdaq, and was therefore subject to delisting.

Both matters are now closed.

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