Nasdaq Grants PowerBank Corporation Extended Period to Meet Minimum Bid Price Requirement
Nasdaq has provided PowerBank Corporation an additional 180-day compliance period to regain compliance with the minimum bid price requirement. The company's shares will continue trading on the Nasdaq Capital Market.
PowerBank Corporation announced it has received a 180-day extension from Nasdaq, until March 28, 2027, to regain compliance with the minimum bid price requirement. The company continues to meet Nasdaq Capital Market's continued listing requirements for market value of publicly held shares and all other applicable listing standards.
Nasdaq initially notified the company of its non-compliance in late September 2026. PowerBank applied for the extended period and concurrently transferred its listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective October 1, 2026. The company's common shares will continue to trade on the Nasdaq Capital Market under the symbol "PBK".
To achieve compliance, the closing bid price of PowerBank's common shares must be at least $1.00 for a minimum of 10 consecutive business days. The company stated it will monitor the bid price and evaluate available options during this period.
Additionally, effective October 2, 2026, certain directors, officers, and consultants will establish Automatic Securities Disposition Plans (ASDPs). These plans will allow for the sale of company shares according to pre-arranged instructions, designed to mitigate potential impacts on the stock price. The ASDPs are intended to help insiders comply with securities regulations regarding stock sales.