Chryon avoids NASDAQ delisting
ChyronHego has regained compliance with a NASDAQ stockholder equity rule and has avoided being yanked from the exchange.
Back in November, Chryon (sans the “Hego” at that time) was notified that it was in danger of delisting from NASDAQ because its share price dipped below $1 for more than 30 days. Another notification followed in March, this time because of failing to meet a NASDAQ rule that requires a minimum of $10 million in stockholder equity.
Per NASDAQ rules, Chyron was given a period of 45 days to submit a plan to regain compliance and up to an additional 180 days to provide evidence of said compliance.
It appears Chyron has met those requirements, pending a review of documentation.
The company’s merger with Hego played a key role in its road to satisfying NASDAQ policies and the company now hovers around $17 million in shareholder equity, reports Devencroft.