Bluejay Diagnostics, Inc. (NASDAQ:BJDX) (“Bluejay” or the “Company”), a medical technology company developing rapid diagnostics on its Symphony platform to improve patient outcomes in critical care settings, announced today that on August 8, 2023, it received a notification letter (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had regained compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rule 5550(a)(2) (the “Nasdaq Capital Market Minimum Bid Price Requirement”).
On October 25, 2022, the Company received a notification letter from Nasdaq notifying the Company that it is not in compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock needed to be at least $1.00 or higher for a minimum of ten consecutive business days. On July 24, 2023, the Company executed a reverse stock split of its shares of common stock. Subsequently, on August 8, 2023, the Company received the letter from Nasdaq that, based on the closing bid price of the Company’s common stock having been at least $1.00 per share for the required period, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and the minimum bid price deficiency matter previously disclosed by the Company on October 25, 2022 is now closed.
