- KWESST Micro Systems (NASDAQ:KWE) on Monday said it has received a notification letter from Nasdaq indicating that it is not in compliance with the minimum bid price requirement outlined in the listing rules for continued listing.
- The said rule requires listed companies to maintain a minimum bid price of US$1.00 per share.
- The notification has no immediate effect on the listing of the company’s common shares on Nasdaq.
- Under the listing rule, the company has 180 calendar days, or until November 12, 2024, to regain compliance. The company may be eligible for an additional period of 180 calendar days to regain compliance.
- Shares of KWE are down 1.46% in premarket trading on Tuesday to $0.33.
