ICO Global has announced that Nasdaq has notified the company that it has regained compliance with marketplace rules.
In September 2009, ICO was informed that it had breached the requirement that its Class A common stock trade above US$1.00. The…
ICO Global has announced that Nasdaq has notified the company that it has regained compliance with marketplace rules.
In September 2009, ICO was informed that it had breached the requirement that its Class A common stock trade above US$1.00. The satellite operator was given 180 calendar days, or until March 15, 2010, to regain compliance with the rule.
At the time, ICO stated that it intended to maintain its listing and that it was considering a potential reverse stock split at a ratio of between 1-for-5 and 1-for-20, which had previously been approved by its shareholders in a June 2009 meeting. However, ICO cautioned that it would only do so if it were in its best interest and on December 15 the company’s share price rose above the US$1.00 requirement without the need for a reverse stock split.
