WiSA Technologies regains compliance with all Nasdaq requirements

WiSA Technologies announced that it is now in compliance with all Nasdaq continued listing requirements. As previously announced, on June 23, 2022, the Nasdaq Listing Qualifications staff issued the Company a delist letter citing its failure to comply with the minimum bid price requirement under Listing Rule 5550(a)(2). Staff’s January 18th delist determination originally determined that the Company had not complied with Nasdaq’s shareholder approval requirements in Listing Rule 5635(d), which requires prior shareholder approval for transactions, other than public offerings, involving the issuance of 20% or more of the pre-transaction shares outstanding at less than the Minimum Price. The Panel held a hearing on the shareholder approval matter on March 9, 2023. On March 22, 2023, the Panel determined to continue the listing of WiSA Technologies, Inc.’s common stock and to take no further action on the matter. As a result, the Company no longer appears on the list of "Noncompliant Companies" maintained by Nasdaq.