Scage Future Gets Nasdaq Notice for Noncompliance With Minimum Bid Price Rule
MT Newswires Live
Jun 19
Scage Future (SCAG) said Thursday it has received a notification letter from Nasdaq stating that it is not in compliance with the stock exchange's minimum bid price rule.
The rule requires listed companies to keep a minimum bid price of $1 per share, the company said, adding that a failure to meet the requirement exists if the deficiency continues for a period of 30 consecutive business days.
Scage Future said it has 180 calendar days to regain compliance with the rule.
The company said it may consider a reverse share split to regain compliance.
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