On October 3 Cumulus received a notifice from Nasdaq relating to the minimum bid price requirement. Because Cumulus’ stock has closed below $1.00 per share for 30 consecutive days, the company received notice that it was not in compliance and had 180 days to regain compliance. Because Cumulus has not regained compliance during the compliance period, Cumulus will be delisted from Nasdaq unless the delisting is successfully appealed.Cumulus has announced it is appealing the ruling and the stock will continue to trade on the Nasdaq while the appeal is pending.
