Nasdaq has notified Milwaukee-based Merge Healthcare Inc. that it was not in compliance with the Marketplace Rule 4450(a)(5), otherwise known as the “Minimum Bid Price Rule,” because shares of its common stock closed at a per share bid price of less than $1.00 for 30 consecutive business days, the company disclosed.
In accordance with the rule, Merge will have 180 calendar days, or until Sept. 29, 2008, to regain compliance. This notification has no effect on the listing of the company’s common stock at this time.
To regain compliance with the rule, the closing bid price of the company’s common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days. If it does not regain compliance by the specified deadline, Nasdaq staff will notify the company that its common stock will be delisted.
Merge Healthcare is a developer of medical imaging and clinical software applications and developmental tools.