Nasdaq Warns Sirius XM: Stock Must Rise Above $1

  • September 17, 2009
Nasdaq alerted Sirius XM Radio Inc. that it received notice on Sept. 15, that its common stock had closed below $1.00 per share for 30 consecutive business days and is therefore not in compliance with the Nasdaq Marketplace Rule 5450(a)(1). In accordance with such rules, Sirius XM may regain compliance if by March 15, 2010 its common stock closes at or above $1.00 for 10 consecutive business days. The radio satellite company intends to maintain the listing of its common stock on Nasdaq.

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