WiSA Technologies’ compliance plan accepted by Nasdaq

WiSA Technologies received a decision from the Nasdaq Hearings Panel granting its request for continued listing on The Nasdaq Capital Market, subject to subject to the following: on or before April 28, the company must demonstrate a minimum bid price of at least $1 per share; on or before June 28, the company shall demonstrate compliance with attaining stockholders’ equity of at least $2.5M. The company plans to implement a one-for-one hundred and fifty reverse stock split on Friday, April 12, with a Nasdaq market effective date of Monday, April 15. The reverse stock split is intended to increase the per-share trading price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement.