SolarMax Technology, Inc. announced that it has regained compliance with The Nasdaq Stock Market LLC's minimum market value of listed securities requirement. The company had previously received a notice on October 22, 2024, indicating non-compliance with Nasdaq Global Market Rule 5450(b)(2)(A), which mandates a minimum market value of $50,000,000.
On December 10, 2024, Nasdaq notified SolarMax Technology that its market value of listed securities had been $50,000,000 or greater for ten consecutive business days. This period spanned from November 25, 2024, to December 9, 2024.
As a result of achieving this sustained market value, the company has successfully regained compliance with Listing Rule 5450(b)(2)(A), and the matter is now closed. This development ensures the company's continued listing on the Nasdaq Global Market.
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