LOS ANGELES - Versus Systems Inc. has successfully regained compliance with the Nasdaq Capital Market's minimum bid price requirement. The company was initially notified of non-compliance on January 23, 2023, when its share price fell below the required $1.00 threshold.
In an effort to rectify the situation, Versus Systems enacted a 1-for-16 reverse stock split on December 28, 2023. This strategic move was aimed at boosting the company's share price to meet Nasdaq's standards.
The corrective action proved effective, as the company's share price sustained above the $1.00 mark for more than ten consecutive business days. On January 12, 2024, it became evident that Versus Systems had achieved compliance with the listing requirements.
Following this period of maintained bid price, Nasdaq sent a notification to Versus Systems on Monday, confirming that the company has adhered to the minimum bid price rule and is now in full compliance with the market's listing standards.
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