NEVE YARAK, Israel – N2OFF, Inc. (NASDAQ: NITO), a clean technology firm specializing in sustainable energy and agri-tech solutions, has been granted an additional 180-day period, until July 7, 2025, to meet Nasdaq’s minimum bid price requirement, the company announced on Tuesday. Currently trading at $1.37, the stock has shown remarkable momentum with a 452% surge in the past week. The Nasdaq Listing Qualifications Department provided formal notification that N2OFF has until the specified date to ensure its common stock’s closing bid price is at least $1.00 per share for a minimum of 10 consecutive trading days. InvestingPro data reveals 12 additional investment insights about NITO’s current market position.
In line with Nasdaq Marketplace Rule 5810(c)(3)(A), the extension was granted based on N2OFF’s compliance with the market value of publicly held shares and all other initial listing standards on the Nasdaq Capital Market, except for the bid price. The company, with a market capitalization of $15.63 million, maintains a strong financial position with zero debt and a healthy current ratio of 6.52, according to InvestingPro analysis. The company has expressed its intention to resolve the bid price deficiency and may consider a reverse stock split if necessary.
The notice from Nasdaq does not currently affect N2OFF’s stock listing or trading, with shares continuing to be listed on the Nasdaq Capital Market under ticker symbol NITO. The stock has demonstrated significant volatility, trading between $0.16 and $3.49 over the past 52 weeks.
N2OFF, previously known as Save Foods, Inc., focuses on integrated solutions to reduce greenhouse gas emissions and improve safety and quality in the agri-tech market. Its majority-owned Israeli subsidiary, NTWO OFF Ltd., provides a novel approach to reducing nitrous oxide emissions. The company has also recently entered the solar PV market, supporting Solterra Renewable Energy Ltd. in a 111 MWp capacity project.
The company maintains a minority stake in Plantify Foods, Inc., a Canadian company trading on the TSXV that offers clean-label healthy food options.
This announcement contains forward-looking statements subject to risks and uncertainties, including market conditions, as detailed in N2OFF’s Annual Report and SEC filings. The company assumes no obligation to update these statements in light of new information or future events. This article is based on a press release statement.
In other recent news, N2OFF, Inc. has made substantial strides in both the renewable energy and agricultural sectors. The company completed a private placement of equity securities, generating gross proceeds of $1.5 million. N2OFF also finalized the sale of new shares and warrants, contributing additional capital to support its operations.
In a strategic move, N2OFF expanded into the European energy storage market through a partnership with Solterra Ltd’s subsidiary in Italy. The company has also made a significant progression in its solar photovoltaic project in Germany, receiving key approval from the Melz Municipal Committee.
N2OFF also settled an outstanding debt by acquiring a majority stake in Plantify Foods, Inc. Furthermore, N2OFF’s subsidiary, Save Foods Ltd., has signed a non-binding letter of intent with an Ethiopian federal entity, GENSIS PM TDC, potentially generating significant revenue.
InvestingPro analysts forecast a revenue growth of approximately 31% for N2OFF in the current year. These developments reflect the company’s recent efforts to bolster its capital structure and support its business operations. Please note that these are recent developments and are subject to change.
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