MVLS Rule definition
MVLS Rule means Nasdaq Continued Listing Rule 5810(c)(3)(C), which requires the aggregate market value of MOXC’s common stock to be at least $35 million. The market value is determined by the Total Number of Outstanding Shares multiplied by the closing bid price. Nasdaq notified MOXC by letter dated March 20, 2020 that MOXC has until September 16, 2020 to regain compliance with the MVLS Rule.
Examples of MVLS Rule in a sentence
SPAC shall provide to Buyer any correspondence of SPAC and/or its counsel with Nasdaq concerning the previous deficiency of SPAC concerning Nasdaq Listing Rule 5450(b)(2)(A) (the MVLS Rule), which SPAC confirms has already been cured by SPAC.
In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company will have 180 calendar days, or until January 7, 2020, to regain compliance with the MVLS Rule.