Turbo Energy (TURB) said Friday that it has regained compliance with Nasdaq's minimum stockholders' equity requirement after strengthening its balance sheet through approximately $5 million in capital raises.
The company said Nasdaq confirmed it now meets the $2.5 million minimum stockholders' equity threshold under Listing Rule 5550(b)(1) following a review of its June 3 filing.
The compliance milestone follows a registered direct offering and issuances under the company's at-the-market program, which together generated roughly $5 million in gross proceeds, it said.
Turbo Energy shares were 4.5% higher in premarket trading.
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