Mr Cooper Group Inc (COOP)

[ron_66271]

Nasdaq Minimum Bid Price Notification

https://ih.advfn.com/p.php?pid=nmona&article=76116055

SEATTLE, Nov. 16, 2017 /PRNewswire/ -- WMIH Corp. (Nasdaq: WMIH) (the "Company") today announced that, on November 14, 2017, the Company received a notice from Nasdaq that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) ("the minimum bid price requirement").

The notification has no immediate effect on the Nasdaq listing of the Company's stock. The Company has 180 calendar days, or until May 14, 2018, to regain compliance with the minimum bid price requirement. To regain compliance during this initial 180 day period, the closing bid price of the Company's common stock must meet or exceed $1.00 for a minimum of 10 consecutive business days, whereupon, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event that WMIH Corp. does not regain compliance before the expiration of the Compliance Period, the Company may be eligible for additional time.

The Company intends to continue monitoring the closing bid price of its common stock and will consider a range of available options to regain compliance with the share price listing standard. For instance, the Company may remedy the deficiency, either now or at a later date, through a reverse stock split. The Company is, however, currently focused on its primary strategic initiative of identifying and consummating an accretive acquisition transaction. Nevertheless, the Company may seek to effect a reverse stock split in the future in order to achieve compliance with Nasdaq listing rules. If the Company does not regain compliance within the allotted compliance period(s), certain further procedures may also be available to the Company.