Greenbrook TMS gets noncompliance notification from Nasdaq, intends to appeal

Greenbrook TMS announced that it received notification from Nasdaq Stock that Nasdaq has determined to delist the company’s common shares due to noncompliance with the minimum bid requirement and the MVLS requirement. The company received notification on May 16 that it was not in compliance with the minimum bid price requirement for continued listing on Nasdaq, as the bid price for the common shares on Nasdaq closed below $1.00 for 30 consecutive days from March 31 to May 12. The company was provided 180 calendar days, or until November 13, to regain compliance with the minimum bid requirement. In addition, as previously disclosed, the company received notification on May 16 that it was not in compliance with the minimum market value of listed securities requirement, as the market value of the company’s listed securities had been below the minimum $35M required for 30 consecutive days from April 3 to May 15. The company was provided 180 calendar days, or until November 13 to regain compliance with the MVLS Requirement.