Houston-based Nutex Health, a micro-hospital network, has received a letter granting a 180-day extension to display compliance with Nasdaq's $1 minimum bid requirement.
The deficiency can be fixed if the network's common stock closing bid price shares are $1 per share or more for at least 10 consecutive business days during the additional compliance period.
All available options, including a reverse stock split, will be considered to resolve the deficiency. The network hopes to reclaim minimum bid price compliance by May 20, 2024. If not achieved, Nutex has received shareholder approval for a reverse stock split execution at least 10 business days prior to May 20, 2024.