Quantum-Si Incorporated (NASDAQ:QSI), a company specializing in measuring and controlling devices, announced today that it has regained compliance with the Nasdaq's minimum bid price requirement. The Connecticut-based company had previously been notified by the Nasdaq on November 4, 2024, that its stock price had fallen below the $1.00 threshold for 30 consecutive business days, violating the Nasdaq Global Market's listing rules.
However, as of Monday, the company received confirmation from the Nasdaq that, with its stock closing bid price back above $1.00 per share as of December 4, 2024, Quantum-Si has met the necessary criteria for continued listing on the exchange. The compliance notice effectively closes the matter, provided the company maintains the required bid price level going forward.
Quantum-Si's stock, which trades under the ticker symbol QSI, and its associated redeemable warrants, labeled QSIAW, are both listed on the Nasdaq Stock Market LLC. The company's swift action to address the bid price deficiency underscores its commitment to adhering to Nasdaq's stringent listing requirements.
The company's Chief Financial Officer, Jeffry Keyes, signed off on the SEC filing on December 9, 2024, marking the formal resolution of the potential listing issue. Quantum-Si, formerly known as HighCape Capital Acquisition Corp. before a name change in 2020, operates out of Branford, Connecticut, and is incorporated in Delaware.
While Quantum-Si has resolved its immediate compliance issue with the Nasdaq, it acknowledges the need to monitor its stock performance closely to prevent future notices of non-compliance. Failure to maintain the bid price requirement could potentially result in a delisting notice from Nasdaq once again.
This development is based on information from a recent SEC filing by Quantum-Si.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.