Lumiradx announces receipt of nasdaq delisting determination; plans to appeal

London, oct. 27, 2023 (globe newswire) -- on october 24, 2023, lumiradx limited (nasdaq: lmdx)(the “company”) received a notice (“notice”) from the listing qualifications department (the “staff”) of the nasdaq stock market llc (“nasdaq”) stating that on april 21, 2023, the staff had notified the company that the bid price of its listed securities had closed at less than $us1.00 per share over the previous 30 consecutive business days, and, as a result, did not comply with listing rule 5450(a)(1) (the “minimum bid requirement”). therefore, in accordance with listing rule 5810(c)(3)(a), the company was provided 180 calendar days, or until october 18, 2023, to regain compliance with the minimum bid price requirement. the notice states that because the company has not regained compliance with the minimum bid price requirement, its securities are now subject to delisting from the nasdaq global market.
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