SCWorx Wins Nasdaq Reconsideration, Awaits Trading Reinstatement
The company says Nasdaq found it compliant with continued-listing rules, but has not yet set a date for trading to resume.
Key takeaways
- Nasdaq approved SCWorx’s continued listing after finding it compliant with key requirements.
- Trading remains suspended on Nasdaq until the exchange sets a reinstatement date.
SCWorx said a Nasdaq Hearings Panel approved its continued listing after reconsidering an earlier delisting decision. The panel found the company had regained compliance with the exchange’s minimum bid-price and publicly held shares requirements.
Nasdaq has not set a date to reinstate trading, which has been suspended since April 14. Until then, SCWorx shares will continue to trade on the OTCQB Venture Market under the symbol WORX.
The company said a September private placement and warrant exercises brought its publicly held shares to 549,092, above Nasdaq’s 500,000-share minimum. Investors in the placement also agreed not to terminate their purchases based on the panel’s earlier decision.
The panel placed SCWorx under a one-year monitor through October 2, 2027, and required monthly reports on shares outstanding, insider holdings and public float. If the company fails a continued-listing standard during that period, it will not receive a compliance plan or cure period.
This article was produced with the help of AI technology. Source: Yahoo Finance
