trending Market Intelligence /marketintelligence/en/news-insights/trending/HD1e17T1uLGTQVFvNx4X7g2 content esgSubNav
In This List

NII Holdings fails to regain compliance with Nasdaq listing rule


Insight Weekly: Banks brace for recession; Europe PE deal values soar; US solar imports rebound


According to Market Intelligence, December 2022


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


MediaTalk | Episode 30: US retailers prep for weaker online sales, holiday spending demand

NII Holdings fails to regain compliance with Nasdaq listing rule

NII Holdings Inc. failed to regain compliance with the minimum closing bid price requirement for the Nasdaq Global Select Market.

According to a Dec. 12 staff determination letter from Nasdaq Listing Qualifications, the company is not eligible for a second 180-day grace period because the company does not comply with the stockholders' equity initial listing requirement for the Nasdaq Capital Market, according to a Form 8-K filed Dec. 15.

NII Holdings was informed that unless it requests an appeal of this determination, the company's common stock will be delisted from the Nasdaq Global Select Market at the opening of business on Dec. 21.

The company has requested a hearing before a Nasdaq listing qualifications panel. The request for a hearing automatically stayed the delisting of the company's common stock pending the issuance of a determination by the panel. The hearing date will be determined by Nasdaq and, to the extent practicable, will be scheduled within 45 days from the date of the request.

NII Holdings is considering all of its options to regain compliance, including the possibility of requesting stockholder approval to amend the company's amended and restated certificate of incorporation to effectuate a reverse split of the company's common stock.