Mynaric (MYNA) said Thursday it received a Nasdaq delisting notice Feb. 10 as a result of a financial restructuring under the German Corporate Stabilization and Restructuring Act.
The Munich, Germany-based laser communications services provider said it does not plan to appeal the delisting decision and expects its American depositary shares to stop trading when the market opens Tuesday next week.
Mynaric had previously received Nasdaq notices for not meeting several listing requirements, including market value threshold, financial statements, shareholder meeting, and minimum bid requirements.
Its shares were down nearly 34% in recent trading.
Price: 0.41, Change: -0.21, Percent Change: -34.19
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