MicroVision receives noncompliance notice from Nasdaq
MicroVision announced that it received a notice from Nasdaq advising the company that for 30 consecutive business days preceding the date of the notice, the bid price of the company's common stock had closed below the $1.00 per share minimum required for continued listing on Nasdaq pursuant to Nasdaq's listing requirements. In accordance with Nasdaq's listing rules, the company has 180 calendar days, or until December 10, to regain compliance with this requirement. This notification is a notice of deficiency, not of imminent delisting, and has no current effect on the listing or trading of MicroVision's common stock on Nasdaq. During the 180-day compliance period, MicroVision can regain compliance if the bid price of its common stock closes at $1.00 or higher for a minimum of ten consecutive business days. If the company does not regain compliance by December 10, Nasdaq will notify the company that its securities are subject to delisting. The company is monitoring the bid price for its common stock. The company continues to execute its business plan and will consider other actions that it may take in order to regain compliance with the listing requirements.