NAVB - Navidea receives NYSE American acceptance letter; secures $2.5M bridge loan

Navidea Biopharmaceuticals (NYSE:NAVB) shares surged 12% during Tuesday extended trading on receipt of an acceptance letter from the NYSE American. The biopharmaceutical company company received a notification from the NYSE American back in Jan stating that it was not in compliance with the $6M stockholders’ equity requirement of Section 1003(a)(iii) of the NYSE American Company Guide. As required by the NYSE American, Navidea submitted a plan to the exchange advising of actions it has taken or will take to regain compliance by July 28, 2023. The plan has now been accepted. The acceptance letter states that firm is also not in compliance with Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide. In other news, Navidea has implemented a Section 382 Rights Agreement designed to protect the availability of its net operating loss carryforwards (NOLs) and other tax assets  Additionally, it entered into a stock exchange and loan agreement with its largest

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Navidea receives NYSE American acceptance letter; secures $2.5M bridge loan