Professional Diversity Network Regains Nasdaq Compliance Over Minimum Equity Requirement; Shares Gain

MT Newswires Live11-23

Professional Diversity Network (IPDN) shares were rallying Friday after the operator of networks said it has regained compliance with a rule requiring companies listed on the Nasdaq Capital Market to maintain a minimum net worth of at least $2.5 million.

Nasdaq regulators in May warned the company that its shares risked being delisted from the stock exchange after the combined value of its assets offset by its liabilities dropped below Nasdaq's minimum threshold during the three months ended March 31. The company had a six-month window to increase its shareholder equity back the $2.5 million minimum and it received written notice from Nasdaq on Thursday that it had regained compliance.

Separately, Professional Diversity Network has until Dec. 24 to regain compliance with another Nasdaq requirement that requires its shares to close at or above $1.

Price: 0.84, Change: +0.15, Percent Change: +21.43

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment