12-29-14
Spanish Broadcasting System says in a 8-k filing that it has received a warning from Nasdaq that its Class A common stock has fallen below the minimum of $15 million for continued listing. SBS has 180 days to get back into compliance -- until June 17, 2015.
If the market value of the shares closes above $15 million for at least 10 consecutive days before that date, SBS will be back in compliance. If the company isn't able to do that, it will receive another notice saying it is subject to Nasdaq delisting. SBS would be able to appeal such a notice.
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