- DryShips (NASDAQ:DRYS +14.6%) announced it has received written notification from the Nasdaq Stock Market indicating that it's out of compliance with listing requirements.
- The closing bid price of the company's common stock for 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Capital Market.
- DryShips says it will effect a 4-for-1 reverse stock split in order to regain compliance with the minimum bid price requirement.
- The company notes that its business operations are not affected by the receipt of the notification.
- Source: Press Release