23andMe Regains Compliance With Nasdaq Listing Requirements
Rhea-AI Summary
23andMe announced it has regained compliance with Nasdaq's listing requirements, specifically the minimum closing bid price requirement under Rule 5550(a)(2) and the majority independent board and committee requirements under Rule 5605. The company's Class A common stock will continue to be listed on The Nasdaq Capital Market under the symbol ME.
Positive
- Regained compliance with Nasdaq listing requirements
- Maintained stock listing on Nasdaq Capital Market
- Resolved both price and governance compliance issues
Negative
- Previous non-compliance with Nasdaq requirements indicates recent financial/governance challenges
News Market Reaction 1 Alert
On the day this news was published, ME declined 3.33%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SUNNYVALE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced that the Company has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2) and the majority independent board and various board committee requirements under Nasdaq Listing Rule 5605. Accordingly, the Company's Class A common stock will continue to be listed on The Nasdaq Capital Market and trade under the symbol “ME”.
About 23andMe
23andMe is a genetics-led consumer healthcare and biopharmaceutical company empowering a healthier future. For more information, please visit www.23andMe.com.
Contact
press@23andme.com
investors@23andme.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “predicts,” “continue,” “will,” “schedule,” and “would” or, in each case, their negative or other variations or comparable terminology, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on 23andMe’s current expectations and projections about future events and various assumptions. 23andMe cannot guarantee that it will actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements and you should not place undue reliance on 23andMe’s forward-looking statements. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond the control of 23andMe), or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The statements made herein are made as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to update them, whether as a result of new information, developments, or otherwise.
FAQ
What Nasdaq requirements did 23andMe (ME) regain compliance with in October 2023?
Will 23andMe (ME) continue trading on Nasdaq after regaining compliance?
What specific Nasdaq rules did 23andMe (ME) satisfy to maintain its listing?
