Odyssey Marine Exploration (NASDAQ:OMEX) Faces Nasdaq Listing Non-Compliance Issues

Odyssey Marine Exploration, Inc. received notifications from Nasdaq concerning non-compliance with listing requirements on October 30, 2024. The company was informed that it did not meet the minimum $35.0 million market value of listed securities needed for 30 consecutive business days, as outlined by Nasdaq Listing Rule 5550(b)(2) for the Nasdaq Capital Market. This triggered a 180-calendar day period, ending on April 28, 2025, for Odyssey Marine Exploration to rectify the situation. To regain compliance, the company must demonstrate a market value of listed securities of at least $35.0 million for a minimum of ten consecutive business days.

Additionally, as of November 4, 2024, Odyssey Marine Exploration was notified that it did not meet the $1.00 minimum bid price requirement for 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2). A similar 180-calendar day timeframe was provided, ending on May 5, 2025, during which the company must restore compliance by showing a minimum bid price of at least $1.00 per share of common stock for ten consecutive business days.

Failing to meet these requirements within the designated periods could result in Odyssey Marine Exploration receiving written notices indicating potential delisting of its securities. However, at the current moment, these notifications have not caused an immediate impact on the listing of the company’s securities on the Nasdaq Capital Market. In the event of non-compliance, the company retains the option to appeal such delisting determinations to a hearing panel.

Significantly, Chief Executive Officer Mark D. Gordon, on behalf of Odyssey Marine Exploration, signed the report on November 5, 2024, in accordance with the Securities Exchange Act of 1934.

By: /s/ Mark D. Gordon
Mark D. Gordon
Chief Executive Officer

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Odyssey Marine Exploration’s 8K filing here.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.