Cinedigm Corp. has regained compliance with a Nasdaq rule requiring its shares to have a minimum market capitalization of $15 million.
The Sherman Oaks entertainment content distributor had been notified in December that it was out of compliance with the rule. The Nasdaq staff made the determination the company had regained compliance based on the value of Cinedigm’s common shares for 10 consecutive days.
Last month, Cinedigm had regained compliance with the Nasdaq rule that its share price must be $1 or higher.
The company announced the regaining of compliance on Monday. On Wednesday, shares in Cinedigm (CIDM) closed up 1 cent, or a fraction of a percent, to $1.54 on the Nasdaq.