Nasdaq warned SCAG after its American Depositary Shares traded under $1 for 30 straight business days.
Scage Future (SCAG) disclosed it received a Nasdaq notice for failing to maintain a minimum $1 bid price. The company’s American Depositary Shares traded below the threshold for 30 consecutive business days, triggering the notification.
The notice does not impact SCAG’s current Nasdaq listing but signals potential delisting risks if the issue persists. Nasdaq rules typically allow a 180-day compliance period to regain the minimum bid price.
No immediate market reaction was reported following the announcement.