OK folks, lets please not go down the "Direct List
Post# of 85487
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Posted On: 03/18/2021 6:35:35 PM
OK folks, lets please not go down the "Direct Listing" road. Let me repost part of my earlier post 42307. Note paragraph #3.
Basically, $2 is the minimum to up list. There are three levels of Nasdaq and the "rules" say $4 closing price on the OTC or any other actual exchange. But it is deeper than that. Level one, the Nasdaq will make exceptions to the $4 rule and up list at $2 closing price OTC. Level two they will make an exception of $3 OTC. BUT the catch is 5 days in a row of OTC closing price at that $2 or $3 dollar closing price, miss a day and it starts over.
For level three ( the hardest to achieve and NO exceptions), the way I read it, we only have to close at $4 for one full trading day, then we can up list the next day. But we absolutely have to trade OTC for one day or five days, depending on the level. A note though, I was told on the phone they strongly suggest up listing companies trade for 3 days for level three, to let the "worlds computer systems" and back offices prepare for the up list. But it is NOT a requirement for 3 days, just the one or five days.
Another point to be sure and understand, we are Up Listing not "Direct Listing". Direct Listing is only for private companies doing an initial offering that is not raising capital. DL is only for private companies, we are a public company. In Direct Listings the Nasdaq sets the first opening price. In Up Listing the opening Nasdaq price will be determined by the market makers looking at the day before closing price on the OTC and the demand and supply of stock at the opening on Nasdaq, then the MM's will set the opening Nasdaq price, based on what it closed for on the OTC the day before, then trade number two is supply and demand pricing.
Read More: https://investorshangout.com/post/view?id=608...z6pVOnpkyy
Basically, $2 is the minimum to up list. There are three levels of Nasdaq and the "rules" say $4 closing price on the OTC or any other actual exchange. But it is deeper than that. Level one, the Nasdaq will make exceptions to the $4 rule and up list at $2 closing price OTC. Level two they will make an exception of $3 OTC. BUT the catch is 5 days in a row of OTC closing price at that $2 or $3 dollar closing price, miss a day and it starts over.
For level three ( the hardest to achieve and NO exceptions), the way I read it, we only have to close at $4 for one full trading day, then we can up list the next day. But we absolutely have to trade OTC for one day or five days, depending on the level. A note though, I was told on the phone they strongly suggest up listing companies trade for 3 days for level three, to let the "worlds computer systems" and back offices prepare for the up list. But it is NOT a requirement for 3 days, just the one or five days.
Another point to be sure and understand, we are Up Listing not "Direct Listing". Direct Listing is only for private companies doing an initial offering that is not raising capital. DL is only for private companies, we are a public company. In Direct Listings the Nasdaq sets the first opening price. In Up Listing the opening Nasdaq price will be determined by the market makers looking at the day before closing price on the OTC and the demand and supply of stock at the opening on Nasdaq, then the MM's will set the opening Nasdaq price, based on what it closed for on the OTC the day before, then trade number two is supply and demand pricing.
Read More: https://investorshangout.com/post/view?id=608...z6pVOnpkyy
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