Concordia receives initial notification letter from Nasdaq
Concordia International announced that on November 29, it received an initial notification letter from the Listing Qualifications Department of the NASDAQ Global Select Market notifying the company that it had 180 days to regain compliance with the minimum bid price requirement set forth in Nasdaq's continued listing rules. Nasdaq's continued listing rules require that listed securities maintain a minimum bid price of $1.00 per share, and that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The company's common shares traded below a bid price of $1.00 for 30 consecutive business days from October 17 to November 28. As a result, the company does not currently meet the minimum bid price requirement. The company's common shares remain listed on Nasdaq and Concordia has until May 29, 2018, to regain compliance with the minimum bid price requirement to maintain the listing.