Smart Sand, Inc. Regains Compliance With Nasdaq Listing Standards
Rhea-AI Summary
Smart Sand, Inc. (NASDAQ: SND) has announced it has regained compliance with Nasdaq listing requirements, following a period where its stock price fell below the $1.00 minimum threshold. After a notification on May 14, 2020, regarding its non-compliance, the company reported that from May 28 to June 10, 2020, the bid price was maintained at or above $1.00. CEO Charles Young expressed satisfaction with this compliance achievement, emphasizing the company's commitment to providing high-quality products and services to its customers.
Positive
- Regained compliance with Nasdaq listing requirements.
- Maintained stock price at or above $1.00 for the required period.
Negative
- None.
News Market Reaction – SND
On the day this news was published, SND gained 1.74%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
THE WOODLANDS, Texas, June 15, 2020 (GLOBE NEWSWIRE) -- Smart Sand, Inc. (NASDAQ: SND) (the “Company”) announced today that it has received notification from the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance for continued listing on Nasdaq.
On May 14, 2020, the Company was notified by Nasdaq that for 30 consecutive business days preceding the date of the notice, the bid price of the Company’s common stock had closed below the
Charles Young, Smart Sand’s Chief Executive Officer, stated “We are pleased to have regained compliance with the Nasdaq continued listing rules. We remain focused on providing the highest quality products and services to our customers throughout the country.”
About Smart Sand:
Smart Sand is a fully integrated frac sand supply and services company, offering complete mine to wellsite proppant supply and logistics solutions to its customers. The Company produces low-cost, high quality Northern White frac sand and offers proppant logistics and wellsite storage solutions to customers through its in-basin transloading terminal and SmartSystems™ wellsite proppant storage capabilities. The Company provides products and services primarily to oil and natural gas exploration and production companies and oilfield service companies. For more information, please visit www.smartsand.com.
Contact:
Josh Jayne
Phone: (281) 231-2660
Email: jjayne@smartsand.com
Lee Beckelman
Phone: (281) 231-2660
E-mail: lbeckelman@smartsand.com
FAQ
What does it mean for SND to regain compliance with Nasdaq?
When did Smart Sand receive notification regarding non-compliance?
How long did SND's stock maintain compliance after the non-compliance notification?
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