Oblong Granted 180-Day Extension by Nasdaq to Regain Compliance with Bid Price Rule
20 Mars 2024 - 9:10PM
Business Wire
Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), an
innovator in collaboration solutions, today announced that the
Company received written notification from the Listing
Qualifications Department of The Nasdaq Stock Market, LLC
(“Nasdaq”), granting the Company's request for a 180-day extension
to regain compliance with Nasdaq's minimum bid price requirement
under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The
Company now has until September 16, 2024 to meet the requirement.
If at any time prior to September 16, 2024, the bid price of the
Company's Common Stock closes at $1.00 per share or more for a
minimum of 10 consecutive business days, the Company will regain
compliance with the Bid Price Rule.
If the Company does not regain compliance with the Bid Price
Rule during the additional 180-day extension, Nasdaq will provide
written notification to the Company that its Common Stock will be
delisted. At that time, the Company may appeal the relevant
delisting determination to a hearings panel pursuant to the
procedures set forth in the applicable Nasdaq Listing Rules.
However, there can be no assurance that, if the Company does appeal
the delisting determination by Nasdaq to the hearings panel, that
such appeal would be successful.
The Company intends to actively monitor the closing bid price of
its Common Stock and may, if appropriate, consider implementing
available options to regain compliance with the Bid Price Rule
under the Nasdaq Listing Rules.
Nasdaq's extension notice has no immediate effect on the listing
or trading of the Company's Common Stock, which will continue to
trade on the Nasdaq Capital Market under the symbol “OBLG”.
About Oblong, Inc.
Oblong (Nasdaq:OBLG) provides innovative and patented
technologies that change the way people work, create, and
communicate. Oblong’s flagship product Mezzanine™ is a remote
meeting technology platform that offers simultaneous content
sharing to achieve situational awareness for both in-room and
remote collaborators. Oblong supplies Mezzanine systems to Fortune
500 and enterprise customers. For more information, visit
www.oblong.com and Oblong’s Twitter and Facebook pages.
Forward looking and cautionary statements
This press release and any oral statements made regarding the
subject of this release contain forward-looking statements as
defined under Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and are made under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical facts, that address activities
that Oblong assumes, plans, expects, believes, intends, projects,
estimates or anticipates (and other similar expressions) will,
should or may occur in the future are forward-looking statements.
Oblong’s actual results may differ materially from its
expectations, estimates and projections, and consequently you
should not rely on these forward-looking statements as predictions
of future events. Without limiting the generality of the foregoing,
forward-looking statements contained in this press release include
statements relating to the Company’s ability to regain compliance
with the Bid Price Rule, the Company’s plans to consider
implementing available options to regain compliance with the Bid
Price Rule, and the Company’s intention to appeal any future
delisting determination. The forward-looking statements are based
on management’s current belief, based on currently available
information, as to the outcome and timing of future events, and
involve factors, risks, and uncertainties, including the risk that
the Company may not meet the minimum bid price requirement during
any compliance period or in the future, the risk that the Company
may not otherwise meet the requirements for continued listing under
the Nasdaq Listing Rules, the risk that Nasdaq may not grant the
Company relief from delisting if necessary, the risk that the
Company may not ultimately meet applicable Nasdaq requirements if
any such relief is necessary, that may cause actual results in
future periods to differ materially from such statements. A list
and description of these and other risk factors can be found in the
Company’s Annual Report on Form 10-K for the year ending December
31, 2023 and in other filings made by the Company with the SEC from
time to time. Any of these factors could cause Oblong’s actual
results and plans to differ materially from those in the
forward-looking statements. Therefore, the Company can give no
assurance that its future results will be as estimated. The Company
does not intend to, and disclaims any obligation to, correct,
update, or revise any information contained herein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240320749578/en/
Investor Relations Contact David Clark
investors@oblong.com (213) 683-8863 ext. 5
Oblong (NASDAQ:OBLG)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Oblong (NASDAQ:OBLG)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024