Rewalk Robotics faces Nasdaq delisting - Mass Device

ReWalk Robotics (Nasdaq:RWLK) announced that it received a missive from the Nasdaq banal marketplace indicating unsatisfied listing requirements.

Last week, the marketplace notified the institution that it failed to support a minimum bid terms of $1 per share. This fails to fulfill the request for continued listing connected Nasdaq.

The institution became deficient with the regularisation arsenic of Oct. 10, 2022, arsenic its closing bid terms failed to scope $1 for 30 consecutive concern days. RWLK shares roseate 1.9% to 85¢ apiece arsenic the marketplace opened this morning.

Rewalk has 180 days (until April 10, 2023) to comply with the rule. To bash so, it indispensable support a closing bid terms of astatine slightest $1 for 10 consecutive concern days. It besides whitethorn beryllium eligible for a 2nd 180-day play to fulfill the requirement.

If, arsenic of April 10, 2023, ReWalk maintains a marketplace worth of publically held shares of astatine slightest $1 million, meets each different Nasdaq listing standards and provides written announcement of its volition to cure the deficiency during the 2nd compliance period, it could garner eligibility for specified period.

ReWalk said it intends to show intimately the closing bid of its shares and see plans for regaining compliance. It offered nary assurance that it regains compliance during the 180-day period, a consequent hold period, oregon astatine all.

Failure to regian compliance whitethorn pb to a Nasdaq delisting notification. ReWalk whitethorn past entreaty immoderate delisting determination to a hearings panel.