| 2019-07-19 17:05:32|
SHIP 17:05 07/19 07/19/19
Seanergy Maritime receives noncompliance notice from Nasdaq
Seanergy Maritime announced that it has received written notification from Nasdaq indicating that because the closing bid price of the company's common stock for 30 consecutive business days, from May 31 to July 12, was below the minimum $1.00 per share bid price requirement for continued listing on Nasdaq, the company is not in compliance with Nasdaq Listing Rule 5550. Pursuant to the Nasdaq Listing Rule 5810, the applicable grace period to regain compliance is 180 days, or until January 13, 2020. The company intends to monitor the closing bid price of its common stock between now and January 13, 2020 and is considering its options, in order to regain compliance with Nasdaq minimum bid price requirement. The company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. In the event the company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the company may be eligible for an additional 180-day grace period. The company intends to cure the deficiency within the prescribed grace period. During this time, the company's common stock will continue to be listed and trade on Nasdaq. The company's business operations are not affected by the receipt of the notification.