SCWorx Granted 180-Day Extension to Meet Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

SCWorx (Nasdaq: WORX) received a written 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).

The extension moves the compliance deadline to April 6, 2026. Nasdaq noted SCWorx meets the Capital Market's other initial listing requirements except the $1.00 minimum bid price. If the share price closes at or above $1.00 for ten consecutive business days during the extension, Nasdaq will confirm compliance. If compliance is not achieved, Nasdaq may notify SCWorx of delisting and the company may appeal to a Nasdaq Hearings Panel, with listing remaining pending the Panel's decision.

Positive

• Nasdaq granted a 180-day extension to regain compliance
• Nasdaq confirmed all other initial listing requirements are met except bid price

Negative

• Compliance deadline extended to April 6, 2026, risk of delisting thereafter
• Company has had bid price deficiency since April 10, 2025

Middleton, MA, Oct. 14, 2025 (GLOBE NEWSWIRE) -- SCWorx Corp (Nasdaq: WORX) ("SCWorx" or the "Company"), a software-as-a-service company focused on data management for healthcare providers received written notification from the Listing Qualification Department of The Nasdaq Stock Market LLC ("Nasdaq") granting the Company's request for a 180-day extension to regain compliance with Nasdaq's minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The Company now has until April 6, 2026 to meet the requirement.

Nasdaq's extension notice has no immediate effect on the continued listing status of the Company's common stock on The Nasdaq Capital Market LLC under the symbol "WORX". If at any time during the additional 180-day extension, the bid price of the Company's common stock closes at, or above, $1.00 per share for a minimum of ten consecutive business days, the Nasdaq staff will provide the Company with a written confirmation of compliance and the matter will be closed.

Nasdaq's determination is based on the Company meeting the continued listing requirement for market value of publicly held shares as well as all other applicable requirements for initial listing on the Capital Market with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period and if necessary, effecting a reverse stock split.

The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rule 5550(a)(2) on April 10, 2025 and was given until October 7, 2025 to regain compliance.

If the Company does not meet the minimum bid requirement during the additional 180-day extension, Nasdaq will provide written notification to the Company that its common stock will be subject to delisting. At such time, the Company may appeal the delisting determination to a Nasdaq Hearings Panel (the "Panel"). The Company would remain listed pending the Panel's decision. There can be no assurance that if the Company does appeal a subsequent delisting determination, that such appeal would be successful.

About SCWorx Corp.

SCWorx has created an advanced attributed virtualized item data warehouse utilizing machine learning and artificial intelligence to offer a suite of software-as-a-service-based solutions for healthcare providers. The value proposition for customers revolves around the full integration of all solution modules with the company’s data platform for cost savings, operational efficiency and accurate benchmarking and reporting. The solution modules include Virtual Item Master, data cleanse and normalization, contract management and request for pricing (RFP) module, automated rebate management module, data interoperability (EMR, MMIS, finance) module, Automated Item Add Portal, Virtual General Ledger, and the data analytics module. SCWorx creates a single source for information for the healthcare provider’s data governance and analytics requirements.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future contract renewals and terminations, future financial position, prospects, plans and objectives of management are forward-looking statements. You can identify many (but not all) such forward-looking statements by looking for words such as “assumes,” “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “seeks,” “intends,” “plans,” “could,” “would,” “may” or other similar expressions. You should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, economic disruptions affecting our customers, unexpected contract terminations, securing future contracts and orders, future product sourcing, supply disruptions, containing costs, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and other important factors that are detailed in filings with the Securities and Exchange Commission made from time to time by SCWorx, including its Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Matters described in forward-looking statements may also be affected by other known and unknown risks, trends, uncertainties and factors, many of which are beyond the Company’s ability to control or predict. SCWorx undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 

Contacts:

ir@scworx.com

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Source: SCWorx Corp.

FAQ

What compliance extension did SCWorx (WORX) receive from Nasdaq on October 14, 2025?

Nasdaq granted a 180-day extension giving SCWorx until April 6, 2026 to regain the $1.00 minimum bid price requirement.

What triggers Nasdaq to confirm WORX compliance during the extension period?

If WORX closes at or above $1.00 per share for ten consecutive business days, Nasdaq will provide written confirmation of compliance.

What happens if SCWorx (WORX) fails to meet the $1.00 bid price by April 6, 2026?

Nasdaq would notify SCWorx that its common stock will be subject to delisting, after which the company may appeal to a Nasdaq Hearings Panel.

Does the Nasdaq extension affect WORX's current listing status?

No; the extension has no immediate effect on the continued listing status of WORX on The Nasdaq Capital Market.

When was SCWorx first notified of the minimum bid price deficiency for WORX?

SCWorx was first notified on April 10, 2025 after failing to maintain a $1.00 bid for 30 consecutive trading days.

Can SCWorx use a reverse stock split to regain Nasdaq compliance for WORX?

The company indicated it may effect a reverse stock split as part of its plan to cure the deficiency during the second compliance period.