Argo Blockchain avoided delisting from Nasdaq British mini | IceCoin
Argo Blockchain avoided delisting from Nasdaq
British mining company Argo Blockchain has met the criteria for listing on Nasdaq - its shares will continue to be traded on the site. This is stated in a press release.
In December, the exchange warned the firm about potential delisting - for 30 days its securities had been below $1, which was a violation of rules. Argo Blockchain later asked to suspend trading.
"To restore compliance, the company was required to maintain a minimum closing bid price of $1 for ten consecutive trading days. This requirement was met on January 13, 2023. Accordingly, the company has restored compliance with Listing Rule 5450(a)(1), and Nasdaq has confirmed that it considers the matter closed," the statement said.
Argo Blockchain applied for a listing of U.S. depositary receipts for its shares on Nasdaq in August 2021. Trading of the instrument under the ticker ARBK began a month later.
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At the end of October 2022, the firm admitted that it had failed to complete a £24 million share sale.
In December, the London and New York Stock Exchanges reported that Argo Blockchain securities had ceased trading without giving a reason.
Recall that in the same month the company decided to sell Galaxy Digital flagship data center in Texas for $65 million.
At the end of December, Argo Blockchain produced 147 BTC after 198 BTC in November. The decrease in production was 25.75%.
