Lottery.com Regains Compliance with Nasdaq Listing Rules
Lottery.com has officially announced its successful compliance with Nasdaq Listing Rules, marking a significant milestone for the company.
As of August 9, 2023, Lottery.com implemented a 1-for-20 reverse stock split to address the challenge posed by the Minimum Bid Price Requirement, which had fallen below $1.00 per ordinary share for an extended period.
A Strategic Turnaround
With the split taking effect and the closing bid price consistently exceeding the $1.00 threshold for ten consecutive business days from August 10, 2023, to August 31, 2023, Lottery.com has not only met the Minimum Bid Price Requirement but also secured compliance with the Periodic Filing Rule, demonstrating its commitment to maintaining a strong position in the market.
This development signifies Lottery.com’s dedication to its shareholders and its proactive approach to achieving and sustaining compliance with Nasdaq’s stringent listing standards.