Laser Photonics receives Nasdaq notice for minimum bid price non-compliance

Laser Photonics Corporation (NASDAQ:LASE) announced it received a notification from The Nasdaq Stock Market LLC on Monday regarding non-compliance with the minimum bid price requirement. According to a press release statement and SEC filing, the company’s common stock closed below $1.00 per share for the past 30 consecutive business days, which does not meet the standard set forth in Nasdaq Listing Rule 5550(a)(2).

The notification has no immediate impact on the listing or trading of Laser Photonics’ common stock. The shares will continue to trade on the Nasdaq Capital Market under the symbol LASE.

Under Nasdaq Listing Rule 5810(c)(3)(A), Laser Photonics has 180 calendar days, until April 19, 2027, to regain compliance. To do so, the closing bid price of the company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days within this period. Nasdaq staff may require a longer period in certain cases, but typically not more than 20 consecutive business days.

If Laser Photonics does not meet the requirement by April 19, 2027, the company may qualify for an additional 180-day compliance period, provided it satisfies other continued listing standards, except for the bid price, and notifies Nasdaq in writing of its intention to resolve the deficiency. If the company is unable to regain compliance or does not qualify for an extension, Nasdaq will issue a notice of determination to delist the company’s common stock. Laser Photonics would then have the opportunity to appeal the decision to a hearings panel.

The company stated it intends to actively monitor its stock price and will consider available options to regain compliance within the permitted timeframe. Despite the sharp decline, InvestingPro analysis suggests the stock may be undervalued at current levels, with a Fair Value estimate above the current trading price. Investors seeking deeper insights can access a comprehensive Pro Research Report on LASE, one of 1,400+ US equities covered with expert analysis and actionable intelligence.

This information is based on a press release statement and an SEC filing made by Laser Photonics Corporation.