RFID solutions developer BOS Better Online Solutions Ltd. (Nasdaq: BOSCD) has received notification from the Listing Qualifications Department of The Nasdaq Stock Market that the company has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The compliance comes after BOS carried out a 1:5 reverse split of its shares, which boosted the share to over the $1 threshold for listing on the Capital Market.
Until a few months ago, BOS had been listed on the Nasdaq General Market, although it was always teetering on the edge of relegation. Nasdaq suspended its threshold conditions for listing for nine months last year because of the market crisis, and when it reinstated the conditions, it notified BOS that the company was at risk of being delisted.
BOS was not in compliance with the $1 share price threshold, or with the $10 million shareholders' equity threshold. The company decided to forego listing on the General Market, and listed on the Capital Market, where it only has to meet the share price condition.
Following the reverse split on Thursday, BOS's share fell 3.1% on Friday to $1.25, giving a market cap of $3.2 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2010
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