The George Economou led shipowner Nasdaq had approved its request to transfer from the Nasdaq Capital Market to the Nasdaq Global Select Market.
The move gives Dryships a further 180 days grace period to comply the requirement that its stock have a minimum bid price of $1 per share. The company was notified of its non-compliance with the rule on 13 April this year.
“If the company fails to regain compliance during this grace period, the company's common stock will be subject to delisting by Nasdaq. The company has provided written notice of its intention to cure the minimum bid price deficiency during the second grace period by effecting a reverse stock split, if necessary,” Dryships said.
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