MICT, Inc. regains compliance with Nasdaq minimum bid price rule

MICT, Inc. announced that it has received a Bid Price Compliance Letter from Nasdaq informing MICT that it has regained compliance with the minimum bid price requirement. MICT was previously notified by Nasdaq on February 2 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. To regain compliance with the Rule, the company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on December 14, the tenth consecutive trading day of MICT’s common stock bid price closing above $1.00. Darren Mercer, CEO of MICT, commented: "We are pleased to regain compliance with the Nasdaq listing requirements as we continue to focus on the integration of our recent acquisition, Tingo Mobile Limited, and deliver against our accelerated global expansion strategy."