DelistingJun 18, 2026, 04:37 PM
Algorhythm Holdings Receives Nasdaq Delisting Notice
AI Summary
Algorhythm Holdings, Inc. received a notification from Nasdaq on June 16, 2026, stating it no longer meets the minimum bid price requirement of $1.00 per share. The company's common stock traded below this threshold for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Algorhythm has 180 calendar days, until December 14, 2026, to regain compliance. The company plans to monitor its stock price and consider options, including a reverse stock split, to meet the requirement.
Key Highlights
- Algorhythm Holdings received a Nasdaq delisting notice on June 16, 2026.
- The company failed to meet the minimum bid price of $1.00 per share for 30 consecutive business days.
- This violates Nasdaq Listing Rule 5550(a)(2).
- Algorhythm has 180 calendar days, until December 14, 2026, to regain compliance.
- Compliance requires the closing bid price to be at least $1.00 for 10 consecutive business days.
- The company will consider options, including a reverse stock split, to regain compliance.
- The notification has no immediate effect on the listing or trading of RIME common stock.
Price Impact
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