Neptune announces decision of nasdaq hearings panel to delist common shares

Laval, qc / accesswire / march 6, 2024 / neptune wellness solutions inc. ("neptune" or the "company") (nasdaq:nept), today announced an update on the status of its appeal against the determination of the listing qualifications staff of the nasdaq stock market llc ("nasdaq") to delist the company's common shares ("common shares"). as previously disclosed, the company had been notified by nasdaq on november 30, 2023 that it was not in compliance with the minimum bid price requirement for continued listing on the nasdaq capital market (nasdaq listing rule 5550(a)(2)), as the bid price for the common shares on nasdaq closed below us$1.00 for 30 consecutive trading days and that it was not in compliance with the minimum stockholders' equity requirement (nasdaq listing rule 5550(b)(1)), as the company's stockholders' equity was below the minimum us$2.5 million required for continued listing.
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