Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 16, 2017, TerraVia Holdings, Inc. (the “Company”) received a letter from The NASDAQ Stock Market LLC (“NASDAQ”) notifying the Company that it is not in compliance with the requirement of NASDAQ Listing Rule 5450(b)(2)(A) for continued listing on The NASDAQ Global Market as a result of the market value of the Company’s listed securities (“MVLS”) being below the minimum $50 million for 30 consecutive business days. This notification has no effect on the listing of the Company’s common stock at this time.
In accordance with NASDAQ Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until December 13, 2017, to regain compliance with NASDAQ Listing Rule 5450(b)(2)(A). To regain compliance, the Company’s MVLS must close at $50 million or more for a minimum of 10 consecutive business days. If the Company does not regain compliance during such period, NASDAQ will provide notice that the Company’s common stock will be subject to delisting from The NASDAQ Stock Market. In that event, the Company may appeal such determination to a hearings panel.
The Company intends to monitor its MVLS actively and is currently evaluating its available options to resolve the deficiency and regain compliance with NASDAQ Listing Rule 5450(b)(2)(A)