ARVL - Arrival says regained compliance with Nasdaq minimum bid price listing rule
2023-04-28 17:15:28 ET
- European electric vehicle startup Arrival ( NASDAQ: ARVL ) on Friday said that it had regained compliance with the Nasdaq stock market's minimum bid price rule.
- ARVL earlier this month effected a 1-for-50 reverse stock split in order to meet the Nasdaq's minimum bid price requirement.
- "To regain compliance with the (Nasdaq listing rule), the Company's ordinary shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days, which was achieved on April 27, 2023," ARVL said in Friday's statement .
- The matter was now closed, ARVL added.
- Arrival ( ARVL ) stock rose 1.9% to $2.18 after hours.
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Arrival says regained compliance with Nasdaq minimum bid price listing rule