Perion Network Ltd. (NASDAQ: PERI), a global technology provider of advertising solutions for brands and publishers, has announced that it received a letter from NASDAQ indicating that the company is not in compliance with the minimum bid price requirement for continued listing set forth in Listing Rule 5450(a)(1) which requires listed securities to maintain a minimum bid price of USD 1.00 per share for 30 consecutive business days, the company said.
The NASDAQ notice has no immediate effect on the listing or trading of the company´s shares on the NASDAQ Stock Market.
According to the letter from NASDAQ, the company has a grace period of 180 calendar days, ending on September 24, 2018, to regain compliance with the minimum bid price requirement.
Perion is a global technology company that delivers advertising solutions to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. More information about Perion may be found at www.perion.com, and follow Perion on Twitter @perionnetwork.