Business
Maris-Tech Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
REHOVOT, Israel, July 17, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the "Company"), a B2B provider of intelligent video
About this update from Maris-tech Ltd.
[{"type":"text","content":"REHOVOT, Israel, July 17, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the \"Company\"), a B2B provider of intelligent video transmission technology with AI acceleration for edge platforms, today announced that it has received a written notice from The Nasdaq Stock Market LLC (\"Nasdaq\") that the Company has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities, including the Company's ordinary shares, to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ordinary shares was at $1.00 per share or greater for the 16 consecutive business days prior to the date of the notice. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), and Nasdaq considers the prior bid price deficiency matter now closed. About Maris-Tech Ltd. Maris-Tech is a B2B provider of video streaming and AI technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, delivering high-performance, compact, low power and low latency solutions to companies worldwide, including leading electro-optical payload, RF datalink and unmanned platform manufacturers as well as defense, HLS, and communication companies. For more information, visit https://www.maris-tech.com. Forward-Looking Statement Disclaimer This press release contains \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the \"safe harbor\" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as \"believe,\" \"expect\",\" \"may\", \"should,\" \"could,\" \"seek, \" \"intend, \" \"plan, \" \"goal, \" \"estimate, \" \"anticipate\" or other comparable terms. For example, we are using forward-looking statements when we are discussing the continued listing or meeting of t...