Odyssey Marine notified of Nasdaq minimum bid-price deficiency, given 180 days to cure
Odyssey Marine Exploration received notice on July 21, 2026 from Nasdaq that it failed to maintain the $1.00 minimum bid price requirement for 30 consecutive business days under Nasdaq Listing Rule 5550(a)(2). The company has until January 19, 2027 to regain compliance by evidencing a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days. The company plans to complete a reverse stock split (at a ratio between 1-for-20 and 1-for-25, previously approved by stockholders on June 1, 2026) to regain compliance before closing a pending merger with American Ocean Minerals Corporation.
- 180-calendar day compliance period ending January 19, 2027
- $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2)
- Reverse stock split at ratio range of 1-for-20 and 1-for-25, approved June 1, 2026
- Notice dated July 21, 2026
- Must evidence closing bid price of at least $1.00 for minimum ten consecutive business days to cure
- 30 consecutive business days below $1.00 triggered the deficiency
- Pending merger with American Ocean Minerals Corporation previously disclosed April 8, 2026
The deficiency creates a near-term timeline risk for Odyssey's Nasdaq listing ahead of its planned merger with American Ocean Minerals Corporation; the reverse stock split is now a critical tool to restore compliance within the 180-day window.
Derived from 8-K filed 2026-07-24. Not investment advice. Figures are extracted from the filing; prose is AI-assisted. View the source filing on SEC.gov →