Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Biotricity shares to be delisted from Nasdaq Capital Market

EditorBrando Bricchi
Published 08/07/2024, 06:39 PM
BTCY
-

Biotricity Inc., a medical device company, is set to be delisted from the Nasdaq Capital Market following a notification of non-compliance with the market's minimum value requirement. The Nasdaq Hearings Panel has decided to delist the company's common stock due to failure to meet the minimum $35 million market value of listed securities, a key criterion for continued listing.

The delisting process commenced with the suspension of trading in Biotricity's shares at the opening of business on Monday. The company had been previously informed by Nasdaq Listing Qualifications Staff on August 4, 2023, of its non-compliance with the minimum market value requirement. Although Biotricity was initially given until January 29, 2024, to regain compliance, the deadline was extended to July 29, 2024, following an appeal.

Nasdaq will finalize the delisting by submitting a Form 25 Notification of Delisting with the U.S. Securities and Exchange Commission after the appeal period has concluded. In the meantime, Biotricity anticipates that its common stock will be traded on the OTC Pink Market under the ticker symbol "BTCY."

Biotricity has a 15-day window from the receipt of the delisting notice to request a review of the Panel's decision by the Nasdaq Listing and Hearing Review Council. Alternatively, the Council may independently choose to review the decision within 45 calendar days.

Despite the delisting, Biotricity has applied for its common stock to be quoted on the OTCQB, a trading platform for early-stage and developing U.S. and international companies. The company plans to maintain its SEC reporting obligations, continuing to submit required periodic reports and filings.

This development is based on information from a press release statement and reflects the latest regulatory challenges faced by Biotricity in the financial markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.