Bio Green Med Solution, Inc. (BGMS) has received a notice from the Nasdaq Stock Market for failing to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. The company has been granted a 180-day grace period to regain compliance and is considering a reverse stock split to address the issue.
Key Details
- Non-Compliance Notice: Received on October 29, 2026, for violating Nasdaq Listing Rule 5550(a)(2).
- Compliance Period: The company has until April 27, 2027, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
- Potential Solution: Management is considering a reverse stock split, which is included as a stockholder proposal in its previously filed S-4 for its business combination with Future NRG Sdn. Bhd.
- Immediate Impact: The notice does not immediately affect the company's stock listing, and its shares will continue to trade on the Nasdaq Capital Market under the symbol "BGMS".