Marrone Bio Innovations Receives Nasdaq Notice Regarding Non-Compliance With Continuous Listing Rule
DAVIS, California – November 8, 2021 – Marrone Bio Innovations, Inc. (Nasdaq: MBII) announced today that it has received a letter from the Nasdaq Stock Market Listing Qualifications Department advising the company of its non-compliance with Nasdaq Listing Rule 5550 (a) (2) due to the The company’s closing bid price less than $ 1.00 per share for 30 consecutive days.
Under the Nasdaq listing rules, the company has 180 calendar days from the date of notification to re-comply with the Nasdaq listing rules. Thus, the company has until May 4, 2022 to return to compliance. To restore compliance, the closing bid price of the company’s common shares on the Nasdaq Capital Market must be at least $ 1.00 per share for at least 10 consecutive business days prior to the expiration of the compliance period on May 4, 2022.
This notification has no immediate effect on the listing of the company’s common stock on the Nasdaq Capital Market and the company’s common stock will continue to trade on the Nasdaq Capital Market under the symbol “MBII” during this period. .
If the company does not regain compliance by May 4, 2022, the company may be eligible for a second 180-day compliance period, provided that by that date, the company meets the requirement to maintain compliance. quotation for market value of public shares and all other initial listing requirements applicable for the Nasdaq capital market (other than the minimum closing bid price requirement) and the company provides written notice to Nasdaq of its intention and plans to remedy the deficiency during the second compliance period.
The company will monitor the closing bid price of its common shares by May 4, 2022 and intends to take all reasonable steps available to comply with the Nasdaq listing rules and maintain the listing of its common shares on the. Nasdaq Capital Market. .
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (Nasdaq: MBII) is a growth-driven agricultural company leading the movement towards environmentally responsible farming practices through the discovery, development and sale of innovative organic products for the protection of crops, crop health and crop nutrition. Our portfolio of 18 products helps our customers operate more sustainably while increasing their return on investment. The company’s commercial products are sold worldwide and supported by a strong portfolio of more than 500 issued and pending patents. Our end markets include row crops; fruits and vegetables; trees, nuts and vines; and greenhouse production. Marrone Bio’s research and development program uses exclusive technologies to isolate and screen natural microorganisms and plant extracts to create new environmentally friendly solutions in agriculture.
Learn more about Marrone Bio Innovations on www.marronebio.com. We also use our investor relations site, https://investisseurs.marronebio.com, as well as our corporate Twitter account, @Marronebio, as a means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these places. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations forward-looking statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release regarding strategy, future operations and plans, including the assumptions underlying such statements, are forward-looking statements and should not be relied upon. as representing the views of MBI at a later date. . Examples of such statements include statements regarding the Company’s intention to re-comply with Nasdaq listing standards and the continued trading of its common shares on the Nasdaq. These forward-looking statements are based on information available to the Company at the date of this press release and involve a number of risks and uncertainties, some of which are beyond the control of the Company, which could cause actual results to differ materially. those anticipated by these forward-looking statements. forward-looking statements, including the Company’s operating results, trading volatility, other factors affecting the Company’s share price and market value and any adverse decisions by regulatory authorities. Additional information that could cause material changes in the performance of the Company is contained in its filings with the SEC. The Company has no obligation and expressly disclaims any responsibility for updating or modifying any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.
Contact Marrone Bio Innovations:
Vice President of Business Development and Investor Relations
Marrone Bio Innovations Inc. published this content on 08 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 November 2021 12:17:16 UTC.