Insider Brief:
- Rigetti Computing has regained compliance with Nasdaq’s minimum share price requirement, confirmed on November 4, 2024, after its stock maintained a closing bid of at least $1.00 from October 18 to November 1.
- Nasdaq previously issued a compliance warning in September 2024 as Rigetti’s stock price fell below $1, a recurring issue the company faced earlier in 2023.
- Rigetti’s stock will stay listed on Nasdaq, contingent on ongoing compliance.
PRESS RELEASE — Rigetti Computing, Inc. announced today in a release that it has regained compliance with the Nasdaq Capital Market’s listing standard for minimum share price requirements under Nasdaq Listing Rule 5550(a)(2). Nasdaq confirmed this status on November 4, 2024, after Rigetti’s common stock maintained a closing bid price of at least $1.00 for the period from October 18, 2024, through November 1, 2024.
Rigetti had previously received a compliance warning from Nasdaq in September 2024 due to its stock trading below the $1 threshold. According to Nasdaq rules, companies must maintain a minimum bid price to stay listed, a challenge Rigetti has encountered before. The company initially regained compliance in 2023 after similar difficulties, but fluctuations in stock value led to another warning this year, with the price dipping as low as $0.69 in September 2024.
Rigetti’s common stock will remain listed on the Nasdaq Capital Market, provided it meets all ongoing listing standards. For companies within the quantum computing sector, it’s important to demonstrate commitment to financial resilience to support investor confidence.
