~BERI .57...
Held at DTC
6,490,593
10/05/2022
$2.00 minimum doesn't seem like a tall order with that tiny float
The Nasdaq has four sets of listing requirements. Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.
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KEY TAKEAWAYS
Major stock exchanges, like the Nasdaq, are exclusive clubs—their reputations rest on the companies they trade.
The Nasdaq has four sets of listing requirements.
Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.
In addition to these requirements, companies must meet all of the criteria under a particular set of standards.
A company has four ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company.
Listing Requirements for All Companies
Each listing firm must adhere to U.S. Securities and Exchange Commission (SEC) Marketplace Rules for Nasdaq listings, including corporate governance rules 4350, 4351, and 4360.
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The regular bid price of shares of the company's stock at the time of listing must be at least $4.00. However, a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements. Typically, there must be at least three (or four depending on the criteria) market makers for the stock.
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Companies must have a minimum of 1,250,000 publicly traded shares outstanding upon listing, excluding those held by officers, directors, or any beneficial owners of more than 10% of the company.
Companies must also have at least 450 round lot (i.e., 100 shares or more) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
Depending on the types of security listed and the company's size, an application fee of $5,000 to $25,000 could be assessed. Companies must also pay a fee based on the quantity of shares issued, which can range from $100,000 to $150,000. There are also several other fees, depending on the type of company, including an annual listing fee, small-cap fee for smaller companies, and fees for additional services or changes such as record-keeping and additional shares issued.
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