ReWalk receives notice of potential delisting
WBJ File
ReWalk CEO Larry Jasinski
The Nasdaq Stock Market this month put on notice Marlborough medical device maker ReWalk Robotics, a warning that the company is in danger of being delisted from the exchange for failing to comply with the minimum $50-million market value, according to a filing by the company on Tuesday.
Per the Nasdaq rule, the company specializing in exoskeletons for paraplegics has until June 12 to regain compliance by either having 10 consecutive days of being valued of at least $50 million or by reporting stockholders’ equity of $10 million or more, according to the company’s U.S. Securities & Exchange Commission filing.
The letter, issued Dec. 14, was not a notice of immediate delisting and doesn’t impact ReWalk’s ability to trade stock on the exchange.
On Wednesday morning, the ReWalk stock was trading at just under $3 per share, resulting in a market value of $48.6 million, according to Yahoo Finance.
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