2023-04-25 16:47:28 ET
TOP Ships said Tuesday it was notified by Nasdaq that it no longer meets the minimum bid price requirement for the Nasdaq Capital Market, as the closing bid price of its common stock for the last 30 consecutive business days was below $1.00/share.
The company said it is considering its options, including a reverse stock split, in order to regain compliance with the minimum bid price requirement.
TOP Ships ( NASDAQ: TOPS ) said it plans to cure the deficiency within the prescribed 180-day grace period to regain compliance, or until October 18.
Last month, TOP Ships ( TOPS ) reported a FY 2022 GAAP loss of $3.03/share .
For further details see:
TOP Ships gets Nasdaq non-compliance notice