Polar Power (POLA) said Monday it regained compliance with rules requiring listed companies on the Nasdaq Stock Market to maintain a minimum bid price of at least $1 per share.
Polar Power shares closed Friday at $2.83 apiece.
The power and cooling systems manufacturer announced last month that it would implement a 1-for-7 reverse stock split on Nov. 19 to boost its share price above the Nasdaq minimum.
The company said a Jan. 23 compliance hearing with Nasdaq officials has been canceled.
Polar Power shares were fractionally higher in recent trading.
Price: 2.84, Change: +0.01, Percent Change: +0.35
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