Bruush Oral Care (NASDAQ:BRSH) stock is climbing higher on Tuesday after the company provided investors with an update on its potential delisting from the Nasdaq Exchange.
According to a filing with the Securities and Exchange Commission (SEC), the company believes that it has regained compliance with Nasdaq listing standards. It claims to have done so following equity transactions with Target Capital 14 LLC and Generating Alpha Ltd.
Those transactions saw it issue an unsecured convertible note with a principal amount of $3.3 million to Target Capital 14 LLC. It also entered into a private placement transaction with Generating Alpha Ltd. for $5 million in gross proceeds.
Following these transactions, Bruush Oral Care believes it now meets the Minimum Stockholders’ Equity Requirement to remain listed on the Nasdaq. It also notes that the Nasdaq may choose to continue to monitor it and could still delist it if there’s no evidence it meets requirements when it files its next periodic report.
BRSH Stock Movement Today
With today’s news comes heavy trading of BRSH stock. As of this writing, more than 22.9 million shares have changed hands. That’s already well above the company’s daily average trading volume of about 3.2 million shares.
BRSH stock is up 18.2% as of Tuesday morning.
Investors who want more of the latest stock market news are in the right place!
We have all of the hottest stock market stories traders need to know about on Tuesday! Among that is what has shares of Icosavax (NASDAQ:ICVX) stock up today, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
