Summary by Moomoo AI
Meta Materials Inc., an advanced materials and nanotechnology company, announced on February 13, 2024, that it has regained compliance with the Nasdaq's minimum bid price requirement. The company had previously been notified by Nasdaq on March 20, 2023, that its common stock was trading below the $1.00 minimum bid price for over 30 consecutive days, violating Nasdaq Listing Rule 5550(a)(2). Meta Materials was initially given 180 days to comply, and later an additional 180-day extension. However, on November 27, 2023, Nasdaq decided to delist the company's stock after it traded at $0.10 or less for ten consecutive days. Meta Materials appealed this decision and a hearing was scheduled for February 22, 2024, which was later canceled as the company regained compliance. The compliance news was released in a press statement by Meta Materials, and the company will continue trading on the Nasdaq Stock Market.