- Spacecraft engine manufacturer Astra Space Inc (NASDAQ:ASTR) outlined measures available to regain compliance with the Nasdaq Listing Rules and maintain its Class A common stock listing.
- On Oct. 6, 2022, Astra received a letter from Nasdaq stating that Astra was no longer in compliance with the Nasdaq Listing Rules as the closing bid price of Astra shares was below $1.00 for 30 consecutive business days.
- On Mar. 13, 2023, Astra submitted an application to Nasdaq for an additional 180-day period to comply with the minimum bid price requirement.
- Based on the discussions with representatives of Nasdaq, Astra expects to hear back from Nasdaq regarding the application status on or around Apr. 5, 2023.
- If at any time during the extended compliance Period, the closing bid price of Astra’s shares needs to be at least $1.00 for a minimum of ten consecutive business days, either due to stock performance or as a result of the company effectuating a reverse stock split.
- Price Action: ASTR shares closed at $0.42 on Thursday.
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