Urban radio specialist Radio One has brought its stock back into compliance with the minimum standards required to continue trading on NASDAQ. At issue was the subpar price of its Class D shares.
The company reported to the SEC, “On January 24, 2013, Radio One, Inc. (the “Company”) reported that it had received a letter from The NASDAQ Stock Market advising it that the Company’s Class D shares traded under the symbol ROIAK, had regained compliance with NASDAQ’s minimum bid price listing requirements and were in good standing on The NASDAQ National Market. The letter received from NASDAQ on January 24, 2013 stated that because the Class D shares closed above the $1.00 minimum bid price for the 10 consecutive trading days ended January 23, 2013, the Company had regained compliance and the matter was now closed.”
RBR-TVBR went back and checked our daily stock reports. We found the Class D shares closed at a moribund $0.92 per share at the end of trading 1/9/13.
However, it made a mighty 13 cent leap the very next day to $1.05 and hasn’t looked back.
