Progressive Care Inc (fka RXMD)

[MastaBeta]

Yes, $4 is the commonly quoted price. There are conditions that would allow initial trading at $3, and maybe even some other prices. And some of those conditions may only apply to NYSE, not NASDAQ. Don't know all those details.

But no stock is allowed to enter trading on NASDAQ at only $1. That is the minimum price allowed AFTER being admitted to the exchange. If the closing price falls below $1 consistently for 3 months of trading, the company will receive a warning from the exchange. The company then has 90 days to get closing price above $1 for 10 consecutive trading days to return to compliance.