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Cardio Diagnostics Holdings, Inc. Regains Nasdaq Minimum Bid Price Requirement
CHICAGO--(BUSINESS WIRE)-- Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO) (“Cardio Diagnostics” or the “Company”), a leader in artificial
About this update from Cardio Diagnostics Holdings Inc.
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nCardio Diagnostics Holdings, Inc. (Nasdaq: CDIO) (“Cardio Diagnostics” or the “Company”), a leader in artificial intelligence-driven precision cardiovascular medicine tests, today announced that on December 5, 2023, it received a notification letter (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had regained compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rule 5550(a)(2) (“Minimum Bid Requirement”) for continued listing on The Nasdaq Capital Market.\n\n\nCardio Diagnostics was initially notified by Nasdaq on September 21, 2023, that it was not in compliance with the minimum bid price requirement because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. The Notification Letter notified the Company that because the closing bid price of the Company’s common stock was at $1.00 per share or greater for the last 10 consecutive business days, from November 20, 2023, to December 4, 2023, Nasdaq determined that the Company has regained compliance with Nasdaq’s Minimum Bid Requirement, and that Nasdaq considered the matter closed.\n\n\nAbout Cardio Diagnostics\n\n\nCardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.\n\n\nForward-Looking Statements\n\n\nCertain statements and information included in this press release constitute \"forward-looking statements\" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will”, \"will likely result,\...