Business
Cemtrex Regains Compliance with Nasdaq Listing Requirements
Brooklyn, NY, Feb. 09, 2023 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company,
About this update from Cemtrex Inc.
[{"type":"text","content":"Brooklyn, NY, Feb. 09, 2023 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, announced today that it has received notice from the Nasdaq Stock Market LLC (Nasdaq) on February 8, 2023 informing the Company that it’s common stock has regained full compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Cemtrex previously received a notification letter from the Listing Qualifications Department of Nasdaq on January 26, 2023 notifying the Company that it has not regained compliance with Listing Rule 5550(a)(2) and accordingly would be delisted from the Capital Market. Cemtrex, however, was granted an additional 180 days, or until July 24, 2023, to regain compliance with the Minimum Bid Price Requirement, a requirement which Cemtrex met on February 7, 2023. Cemtrex effected a 1-for-35 reverse stock split that took effect at 12:01 a.m. Eastern Standard Time on January 25, 2023, and reflected with the Nasdaq Capital Market and in the marketplace at the open of business on January 25, 2023, whereupon the shares of common stock began trading on a split-adjusted basis. In connection with the reverse split, the Company’s common stock continues trading on Nasdaq under the symbol “CETX” but now trades under a new CUSIP Number, 15130G 709. About Cemtrex Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc. Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting serv...