AVAX One Regains Nasdaq Compliance After Reverse Stock Split

AVAX One, a cryptocurrency treasury firm focused on Avalanche (AVAX), has regained compliance with Nasdaq's minimum bid price requirement. The company achieved this after conducting a 1-for-12 reverse stock split in June, which reduced its supply of shares from over 92.3 million to just under 7.7 million.

The move allowed AVAX One to meet the listing rule, which requires a stock's closing bid price to stay at or above $1.00 per share. Nasdaq confirmed that AVAX One's shares closed above this threshold for 10 consecutive trading days from June 15 through June 29.

Interim CEO Pete Wylie stated, 'We are pleased to have regained compliance with Nasdaq's minimum bid price requirement and appreciate the trust our shareholders have placed in us throughout this process.'