COMSovereign Announces Receipt of Nasdaq Listing Determination; Company to Request Hearing and Further Stay
DALLAS, Oct. 12, 2022 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G communication systems and solutions, today announced that on October 5, 2022, the Company received notice from the Nasdaq Listing Qualifications Staff (the "Staff") indicating that it had determined to delist the Company's securities from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the "Panel"). The Staff's determination was based upon the Company evidencing a closing bid price of less than $0.10 per share for the preceding ten consecutive trading days, in contravention of Nasdaq Listing Rule 5810(3)(A)(iii), and the Company's continued non-compliance with the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1).
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