Nasdaq Grants MICT Extension to Regain Compliance with the $1.00 Minimum Bid Price Rule
MICT, Inc. (MICT)
US:NASDAQ Investor Relations:
micronet-enertec.com/ir-events%20&%20presentations.asp
Company Research
Source: GlobeNewswire
MONTVALE, NJ, July 27, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ: MICT) (“MICT” ot the “Company”) announces that it has received a letter from Nasdaq granting it an additional 180-day extension, or until January 23, 2023 to evidence compliance with Nasdaq’s $1.00 minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its shares of Common Stock is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before January 23, 2023. MICT believes the closing of its proposed merger (the “Merger”) with Tingo, Inc., a Nevada corporation will resolve its minimum bid price requirement. If for some reason the Merger does not close within the prescribed period or the minimum bid price is not otherwise met, MICT will consider alternative options to regain compliance. During this time, the Company's shares of Common Stoc
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