DelistingJul 24, 2026, 04:32 PM
Odyssey Marine Exploration Receives Nasdaq Delisting Notice
AI Summary
Odyssey Marine Exploration Inc. received a notice from Nasdaq regarding non-compliance with the minimum bid price rule, as its stock traded below $1.00 for 30 consecutive business days. The company has 180 calendar days, until January 19, 2027, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. The notice has no immediate impact on the company's listing. Odyssey plans to use a previously approved reverse stock split (1-for-20 to 1-for-25) to regain compliance, anticipating this will occur before its merger with American Ocean Minerals Corporation.
Key Highlights
- Odyssey Marine Exploration received a Nasdaq notice for not meeting the $1.00 minimum bid price requirement.
- The company has 180 calendar days, until January 19, 2027, to regain compliance.
- To comply, the closing bid price must be at least $1.00 for ten consecutive business days.
- An additional 180-day compliance period may be available if certain conditions are met.
- The company's stockholders approved a reverse stock split (1-for-20 to 1-for-25).
- The reverse stock split is expected to help regain compliance before the merger with American Ocean Minerals Corporation.
Price Impact
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