Sealsq provides update on minimum bid price non-compliance

SEALSQ (LAES) Corp provided an update on its strategy to address its noncompliance with the minimum bid price requirement in order to maintain its listing on the Nasdaq. As announced on August 1, 2024, the company has been provided with an initial period of 180 calendar days, or until January 28, 2025, to regain compliance with the minimum bid price requirement. The closing bid price of the Ordinary Shares must be at least $1.00 for at least 10 consecutive business days prior to January 28, 2025 to regain compliance. If that occurs, Nasdaq will then provide a written confirmation of compliance and the matter will be closed. The intention of the company is to regain compliance with the Nasdaq minimum bid requirement prior to January 28, 2025 through its commercial activities in its semiconductor segment and the company remains confident in this strategy. However, in the event that the company has not regained compliance by January 28, 2025, the company intends to request an extension to the compliance period of 180 days.