Why it has increased dramatically today

  • Cyren Ltd (NASDAQ: CYRN) stock price rose more than 45% before the market today. That’s why it happened.

The share price of Cyren Ltd (NASDAQ: CYRN) – a provider of email security and threat intelligence solutions – has risen more than 45% before market. Investors respond positively to Cyren announcing that the company has received a written notification from the NASDAQ Capital Market listing qualification department granting the company’s request for a 180-day extension to re-comply with the price requirement. Nasdaq minimum purchase under the Nasdaq 5550 (a) listing rule. (2). Now, the company has until April 4, 2022 to meet the requirement.

The Nasdaq extension notice has no immediate effect on the continued listing status of the Company’s common shares on the Nasdaq Capital Market. And common stocks remain listed on the Nasdaq Capital Market.

If at any time until April 4, 2022, the bid price of the Company’s common shares closes at $ 1.00 or more per share for at least 10 consecutive trading days, the Company will again comply with the Rule and l case will be closed.

Cyren will continue to monitor the bid price of its Common Shares and will review the various options available to it if its Common Shares do not trade at a level that may return to compliance. These options include the execution of a reverse stock split. There can be no assurance that Cyren will re-comply with the Rule or maintain compliance with any of the other Nasdaq listing maintenance requirements.

If Cyren does not meet the minimum bid requirement during the additional 180-day extension, the Nasdaq will notify the company in writing that its common shares will be subject to delisting. At that point, Cyren can appeal the delisting decision to a Nasdaq hearing panel. Cyren would remain on the list pending the Panel’s decision. There can be no assurance that if the Company appeals a subsequent delisting decision, this appeal will be successful.

Disclaimer: This content is intended for informational purposes. Before you make an investment, you need to do your own analysis.

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