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Paragon given extra breathing space on the Nasdaq

Paragon Shipping has transferred its listing to the Nasdaq Capital Market from the Nasdaq Global Market. Moreover, the company has been granted an additional 180-day grace period to regain compliance with the Nasdaq’s minimum bid price requirement.

Paragon was notified by Nasdaq this May that it no longer satisfied the minimum bid price requirement for continued listing.

The minimum bid price per share of the company’s common stock must be at least $1.00 for at least ten consecutive business days during the additional 180-day grace period, which will end on May 9, 2016. Paragon has said it is willing to cure the minimum bid price deficiency during the second grace period by effecting a reverse stock split, if necessary.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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