Banzai International (BNZI) said Tuesday that it has regained compliance with Nasdaq's minimum bid price requirement for continued listing.
Nasdaq informed the company on Oct. 18 that its class A shares have maintained a minimum closing bid price of at least $1 over 10 consecutive business days.
The company's shares jumped 78% on Oct. 9 after it disclosed plan to lower its annual operational expenses by up to $9.9 million by March 31, 2025, and cut other expenses by up to $3.6 million. The measure includes workforce adjustments, operational consolidation, and other cost-cutting action.
Banzai International shares were up over 3% in recent trading Tuesday.
Price: 3.45, Change: +0.19, Percent Change: +5.83
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