Agroz Inc., a vertically integrated agricultural technology company focused on Controlled Environment Agriculture (CEA) and vertical farming, has announced that it received a deficiency letter from The Nasdaq Stock Market regarding its minimum bid price requirement.
According to the notification from Nasdaq's Listing Qualifications Department, the company's ordinary shares traded below the required minimum closing bid price of $1.00 per share for 30 consecutive business days. This falls short of Nasdaq Listing Rule 5550(a)(2), which sets the minimum bid price standard for continued listing on The Nasdaq Capital Market.
The notice has no immediate impact on the company's listing status. Under Nasdaq rules, Agroz has been granted a 180-calendar-day compliance period, through August 17, 2026, to regain compliance. If at any time during this period the closing bid price of the company's ordinary shares reaches at least $1.00 for a minimum of ten consecutive business days, Nasdaq will confirm compliance and the matter will be considered resolved.
If the company does not regain compliance within the initial compliance period, it may be eligible for an additional 180-day extension. To qualify, Agroz would need to meet other continued listing requirements, including the market value of publicly held shares, and indicate its intention to cure the bid price deficiency, potentially through a reverse stock split if necessary. Should Nasdaq determine that the company is unable to regain compliance, the company would have the right to appeal any delisting determination to a hearings panel.
Agroz stated that it intends to monitor the closing bid price of its shares and may consider available options to regain compliance with the bid price requirement.
Source: www.prnewswire.com
