Oblong regains compliance with Nasdaq’s minimum bid price rule

Oblong announced that the Company received formal notice from The Nasdaq Stock Market that the Company has regained compliance with Nasdaq’s minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), after the Company’s stock traded above $1.00 per share for 10 consecutive business days. Accordingly, Nasdaq has advised that the matter is now closed. “We are pleased to report that Oblong is now back in full compliance with Nasdaq’s listing requirements,” said Peter Holst, CEO of Oblong. “As of June 30, 2024, we had $5.9M of cash and no debt. We believe our existing cash provides us liquidity into the first half of 2026. We remained focused on actively seeking inorganic growth opportunities through M&A. Our exploration of strategic alternatives is diverse, encompassing the possibility of a business combination; a reverse merger; or outright sale of the company. Each option is being carefully evaluated to ensure it aligns with our overarching goal of sustainable growth and value creation.”