Kaival Brands Innovations Group (KAVL) has released an update to notify the public and investors about listing compliance status.
Kaival Brands Innovations Group, Inc. was at risk of being delisted from the Nasdaq due to its stock price falling below $1 for 30 consecutive days. To address this, the company performed a reverse stock split, and after initially failing to meet the compliance deadline, it finally achieved the required bid price level, closing above $1 for ten consecutive trading days. Consequently, Nasdaq has confirmed that the company regained compliance with its listing rules, ensuring the continued trading of its stock on the market.
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For a comprehensive understanding of the announcement, you can read the full document here.
