Sunshine Heart receives extension to comply with Nasdaq listing requirements
Sunshine Heart announced that on November 21, 2016 it received a letter from the Nasdaq Office of General Counsel indicating that the Panel had granted the company continued listing on the Nasdaq Capital Market while it implements its plan to regain compliance with both the $1.00 minimum bid price requirement and the $2.5M minimum stockholders' equity requirement. The Panel has granted Sunshine Heart time until January 30, 2017 to evidence a closing bid price of $1.00 or more for a minimum of ten prior consecutive trading days, and until March 20, 2017 to evidence compliance with the $2.5M stockholder's equity requirement. The company is diligently working on executing its plan to demonstrate compliance with the continued listing requirements, and will provide a further update when relevant information becomes available. There can be no assurance that the company will be able to evidence compliance with the applicable listing criteria within the period of time granted by the Panel.