Business
Seanergy Maritime Holdings Corp. Announces Receipt of Nasdaq Notice
ATHENS, Greece, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (“Seanergy” or the “Company”) announced today that it has
About this update from Seanergy Maritime Holdings Corp.
[{"type":"text","content":"ATHENS, Greece, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) (“Seanergy” or the “Company”) announced today that it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated September 30, 2020, indicating that because the closing bid price of the Company’s common stock for 30 consecutive business days, from August 18, 2020 to September 29, 2020, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until March 29, 2021.\n The Company intends to monitor the closing bid price of its common stock between now and March 2021 and is considering its options, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. In the event the Company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the Company may be eligible for an additional 180-day grace period. The Company intends to cure the deficiency within the prescribed grace period. During this time, the Company's common stock will continue to be listed and trade on the Nasdaq Capital Market. The Company's business operations are not affected by the receipt of the notification. About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a fleet of 11 Capesize vessels with an average age of about 11.5 years and aggregate cargo carrying capacity of approximately 1,926,117 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Athens, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol \"SHIP\", its Class A warrants under \"SHIPW\" and its Class B warrants under “SHIPZ”. Please visit our company website at: www.seanergymaritime.com. Forward-Looking Statements This press release contains forward-looking stat...