Nasdaq-rrr1 posted this May 3 re new Nasdaq standards
The SEC has approved alternatives to Nasdaq's historical $4 minimum bid price listing standard. Under the new alternative listing standards, a security may qualify for listing on the Nasdaq Capital Market if:
$3/share price -- for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $3 per share and the issuer has either:
Equity Standard: (A) stockholders' equity of at least $5M; ( " src="http://investorshangout.com/post/smileys/cool.gif" alt="
" /> market value of publicly held shares of at least $15M; and (C) a two year operating history; or
Net Income Standard: (A) net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years; ( " src="http://investorshangout.com/post/smileys/cool.gif" alt="
" /> stockholders' equity of at least $4M; and (C) market value of publicly held shares of at least $5 million; or
$2/share price -- for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $2 per share and the issuer has (A) market value of listed securities of at least $50M; ( " src="http://investorshangout.com/post/smileys/cool.gif" alt="
" /> stockholders' equity of at least $4M; and (C) market value of publicly held shares of at least $15M.
With Nasdaq now competing with NYSE Amex for listings in the $2-3 range (and the relaxed registration requirements under the IPO "on-ramp" provisions of the JOBS Act), mid-sized IPO candidates have additional options for accessing the capital markets.
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