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Greenbrook TMS Inc. (NASDAQ:GBNH) ("Greenbrook" or the "Company") today announced receipt of the final delisting notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") due to the continued failure to satisfy either the $1.00 minimum bid price listing requirement in Nasdaq Listing Rule 5550(a)(2) or the minimum stockholders' equity requirements in Nasdaq Listing Rule 5550(b). Nasdaq has notified the Company that trading of its common shares (the "Common Shares") will be suspended as of the open of trading on February 26, 2024. After careful consideration, the Company determined that it was in the overall best interests of the Company not to appeal the decision.
The Company intends to quote the Common Shares on OTC Markets as soon as practicable following the suspension of its Common Shares on Nasdaq.
Nasdaq has informed the Company that it will file a Form 25-NSE with the U.S. Securities and Exchange Commission (the "SEC"), which will remove the Company's Common Shares from listing on Nasdaq and registration under Section 12(b) of the U.S. Securities Exchange Act of 1934.
Posted In: GBNH
