Tuesday, June 15, 2021 9:43:31 AM
Nasdaq Listing Requirements for Capital Markets Tier - REVISED
I corrected earlier chart to show that LWLG does qualify under the Market Value Standard, but it requires a 90-day wait time before applying, while the Equity Standard should be a relatively immediate application/qualification process.
Previous message with updated chart.
I looked into the initial listing requirements for Nasdaq a bit. There are three Tiers in descending order.
1. Global Select Market
2. Global Market
3. Capital Market
The Capital Market is the lowest tier and - thus - has the lowest barrier to entry.
Within the Capital Market Tier, there are three different paths to listing, each with distinct requirements. The paths are:
1. Equity Standard
2. Market Value Standard
3. Net Income Standard
Based on my layman's study into the requirements for each Standard, here's what I came up with:
As noted on the chart, LWLG also qualifies under the Market Value Standard, but has to wait 90 days before applying.
Based on the above, I believe we have no barrier to entry into the Nasdaq Capital Market using the Equity Standard.
Under the Equity Standard, I see no limiting timeframe before either applying or being granted a full listing.
Question for the company...why did Dr. Lebby highlight the Market Value Standard in the presentation (which requires 90 day wait before applying), when it appears that under the Equity Standard, there is no wait time required before applying?
PG
I corrected earlier chart to show that LWLG does qualify under the Market Value Standard, but it requires a 90-day wait time before applying, while the Equity Standard should be a relatively immediate application/qualification process.
Previous message with updated chart.
I looked into the initial listing requirements for Nasdaq a bit. There are three Tiers in descending order.
1. Global Select Market
2. Global Market
3. Capital Market
The Capital Market is the lowest tier and - thus - has the lowest barrier to entry.
Within the Capital Market Tier, there are three different paths to listing, each with distinct requirements. The paths are:
1. Equity Standard
2. Market Value Standard
3. Net Income Standard
Based on my layman's study into the requirements for each Standard, here's what I came up with:
As noted on the chart, LWLG also qualifies under the Market Value Standard, but has to wait 90 days before applying.
Based on the above, I believe we have no barrier to entry into the Nasdaq Capital Market using the Equity Standard.
Under the Equity Standard, I see no limiting timeframe before either applying or being granted a full listing.
Question for the company...why did Dr. Lebby highlight the Market Value Standard in the presentation (which requires 90 day wait before applying), when it appears that under the Equity Standard, there is no wait time required before applying?
PG
