Semanix receives violation notice from Nasdaq
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SAO PAULO – Semantix, Inc. (Nasdaq: STIX), Latin America’s leading provider of enterprise artificial intelligence applications and platforms, disclosed on Monday that it has received a notification from Nasdaq Stock Market LLC stating that The company did not comply with the exchange’s minimum bid rules. From November 10 to December 29, 2023, Semantix stock price has closed below the required threshold of $1.00 for 34 consecutive business days.
The company now has until July 1, 2024 to meet Nasdaq’s acquisition conditions, which require maintaining a minimum closing offer price of $1.00 for at least ten consecutive business days. Failure to achieve compliance within this 180-day grace period may result in a second 180-day grace period if Semantix meets market value and other initial listing criteria (excluding bid requests). Semantix must communicate its intention to address the shortage in order to extend this time frame.
Semantix is considering various options to resolve the acquisition, including the possibility of a reverse stock split to comply with Nasdaq listing rules. Founded in 2010 by CEO Leonardo Santos, the company serves more than 300 clients in approximately 15 countries, providing a comprehensive data and enterprise artificial intelligence software platform.
This information is based on a press release from Semantix, Inc.
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