What Does Nasdaq Non-Compliance Mean for Argo Blockchain?

2 min read | January 17, 2025 02:47 AM PST | By Team Kalkine Media

What Does Nasdaq Non-Compliance Mean for Argo Blockchain? — Image source: Shutterstock

Nasdaq Non-Compliance Notice

The notification from Nasdaq highlights that the minimum bid price requirement for listed securities must remain at or above $1.00. With Argo Blockchain's ADS falling below this threshold, the company has been given a window to address the issue. The shares will continue to be traded on the Nasdaq Global Select Market until July 15, 2025, providing the company with an opportunity to regain compliance.

Compliance Window and Resolution Process

In order to resolve the non-compliance issue, Argo Blockchain must ensure that its ADS closes at or above $1.00 for a minimum of 10 consecutive business days before the given deadline. If this condition is met, the company will return to compliance with Nasdaq's listing requirements. This allows Argo a period to monitor market conditions and evaluate potential actions to meet the necessary standards.

Impact on Operations and London Listing

The Nasdaq notification does not impact Argo Blockchain’s business operations or its listing on the London Stock Exchange. The company’s activities remain unaffected by the notification, and the London listing continues without interruption. The non-compliance notification is specifically related to the Nasdaq listing and does not alter the company’s broader strategic direction.

Argo Blockchain will continue to monitor the performance of its ADSs and explore possible solutions to resolve the issue and align with Nasdaq’s listing requirements. The notification serves as an indication of the importance of maintaining compliance with listing standards on major exchanges like Nasdaq.

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