CISO Global In Compliance with Nasdaq Bid Price Listing Requirement

Rhea-AI Summary

CISO Global (CISO) successfully demonstrates compliance with Nasdaq bid price requirement, avoiding hearing cancellation.

Financial Analyst

The recent announcement by CISO Global regarding their compliance with the Nasdaq Bid Price Rule is a positive development for the company and its investors. The reverse split, which took effect on March 8, 2024, was a strategic move aimed at boosting the share price above the $1.00 threshold required by Nasdaq. Successfully maintaining this price for 10 consecutive trading days is indicative of investor confidence and market acceptance of the reverse split as a corrective action.

However, it's important to note that reverse splits can sometimes be viewed as a red flag by investors, as it could signal underlying issues with the company's performance or value. In the case of CISO Global, the market's reaction following the reverse split will be important to watch. Investors should monitor the stock's liquidity and trading volume, as these factors can be affected by such corporate actions. Additionally, the company's ability to sustain its share price above the minimum bid price over the long term without further reverse splits will be a key indicator of its financial health and operational stability.

Market Research Analyst

From a market perspective, CISO Global's compliance with the Nasdaq Listing Rule is a signal of stabilization. The technology sector and specifically cybersecurity firms, operate in a highly volatile and competitive environment. For a company like CISO Global, which offers proprietary software and managed cybersecurity services, maintaining a listing on a major exchange like Nasdaq is essential for visibility and credibility among potential clients and partners.

It is also worth considering the broader market implications of such compliance. It reflects the company's commitment to adhering to regulatory standards and can potentially attract institutional investors looking for companies with strong governance practices. However, the company must continue to innovate and deliver value to its customers to ensure that the stock price reflects its operational success rather than just the mechanical effect of a reverse stock split.

Scottsdale, Ariz., March 26, 2024 (GLOBE NEWSWIRE) -- CISO Global (NASDAQCM: CISO), an industry leader in proprietary software, managed cybersecurity and compliance, announced that as of March 22, 2024, the Nasdaq Stock Market (“Nasdaq”) confirmed that the Company has sufficiently demonstrated compliance with the bid price requirement in Nasdaq Listing Rule 5550(a)(2) (“Bid Price Rule”). CISO Global enacted a reverse split effective on March 8, 2024, and maintained a share price in excess of $1.00 per share for the following 10 consecutive trading days.

The Company’s March 26, 2024, scheduled hearing before the Nasdaq Hearing Panel has been cancelled.

About CISO Global
CISO Global (NASDAQCM: CISO), based in Scottsdale, Arizona, is a Top #25 managed cybersecurity and compliance services provider that is delivering innovative solutions through its newly developed AI and ML-powered product portfolio. The company protects the most demanding businesses and government organizations against continuing and emerging security threats and ensures their compliance obligations are being met. For more information about the company, visit CISO Global on LinkedIn, X or at www.ciso.inc.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our ability to remain compliant with Nasdaq’s continued listing rules. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent annual report on Form 10-K, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at www.ciso.inc. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

Media Inquiries: 

Janet Brumfield
Ideal PR+ for CISO Global
614.582.9636
janet@idealprplus.com

What is the recent announcement by CISO Global (CISO) regarding Nasdaq compliance?

CISO Global announced compliance with Nasdaq bid price requirement, avoiding a scheduled hearing cancellation.

When did CISO Global (CISO) enact a reverse split?

CISO Global enacted a reverse split on March 8, 2024.

What was the share price maintained by CISO Global (CISO) post reverse split?

CISO Global maintained a share price in excess of $1.00 per share for 10 consecutive trading days post reverse split.

What was the outcome of CISO Global's (CISO) scheduled hearing before the Nasdaq Hearing Panel on March 26, 2024?

CISO Global's scheduled hearing before the Nasdaq Hearing Panel on March 26, 2024, was cancelled.