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BloomZ faces Nasdaq delisting over share price

Published 12/06/2024, 04:12 PM
BLMZ
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TOKYO - BloomZ Inc. (NASDAQ:BLMZ), a micro-cap company with a market capitalization of $8.33 million specializing in audio production and talent management for voice actors and virtual YouTubers (VTubers), has been notified by Nasdaq of non-compliance with the exchange's minimum bid price rule. According to InvestingPro data, the stock has experienced significant volatility, with shares currently trading at $0.60. The notice, received on December 2, 2024, indicates that the company's shares did not meet the required minimum bid price of $1.00 over a period of 30 consecutive business days from October 18 to November 29, 2024.

Nasdaq's Listing Rule 5550(a)(2) stipulates that listed companies must maintain a minimum bid price of at least $1.00 per share. BloomZ now has 180 calendar days, until June 2, 2025, to regain compliance. To achieve this, the company's ordinary shares must close at $1.00 or higher for at least 10 consecutive trading days during the 180-day period. If BloomZ fails to meet this requirement by the deadline, it may be granted additional time to regain compliance or face the risk of being delisted from the Nasdaq Capital Market.

Currently, the notice of deficiency does not affect the listing or trading of BloomZ's securities on the Nasdaq. The company has expressed its intention to actively monitor its share price and take reasonable measures to regain compliance within the allotted timeframe. InvestingPro analysis reveals the company maintains a healthy current ratio of 1.6, indicating sufficient liquid assets to meet short-term obligations. Subscribers can access 8 additional key financial metrics and insights about BLMZ's financial health.

BloomZ Inc. operates through its subsidiary Kabushiki Kaisha BloomZ in Japan, leveraging over a decade of experience in audio production for animations and video games. Despite challenging market conditions, InvestingPro data shows the company achieved notable revenue growth of nearly 30% in the last twelve months. The company continues to focus on the cultivation and promotion of voice actors and VTubers, a growing segment in the entertainment industry.

This press release contains forward-looking statements, which are based on management's current expectations and projections. However, there is no guarantee that these projections will be realized, and actual outcomes may differ significantly. Forward-looking statements involve risks and uncertainties that can affect the company's performance.

The information for this article is based on a press release statement from BloomZ Inc.

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

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