09 Jul Merge Healthcare meets Nasdaq minimum bid price
Milwaukee, Wis. — Merge Healthcare (more articles) announced on Wednesday that the potential threat of delisting from Nasdaq due to stock price is over. The firm regained compliance because its shares traded above $1 per share for 10 consecutive days.
Merge was notified on April 2 that it was not in compliance with rules on minimum bid price and had until September 29 for the price to climb again. Merge hit its 52-week low of $0.26 in mid-May, then climbed again after filing its first-quarter report and announcing the sale of its overseas units in France and China for no proceeds to the company. It continued to rise after the announcement of private funding and the settlement of lawsuits in late May.
Nasdaq has now notified the company that it considers the matter closed, Merge said in a press release.