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AVAX One regains Nasdaq $1 minimum bid compliance after 1-for-12 split
The company’s shares closed above $1 for 10 straight trading days, from June 15 through June 29, after the June 15 reverse split cut shares from about 92.3 million to under 7.7 million.
AVAX One said it has regained compliance with Nasdaq’s $1.00 minimum bid price requirement, closing out a listing issue tied to the rule that a stock’s closing bid must stay at or above $1.
According to Decrypt, Nasdaq confirmed AVAX One met Listing Rule 5550(a)(2) after its shares closed above the threshold for 10 consecutive trading days, from June 15 through June 29. The company conducted a 1-for-12 reverse stock split on June 15, reducing its share count from more than 92.3 million shares to just under 7.7 million.
Decrypt also reported that AVAX One’s interim CEO Pete Wylie said the listing matter is now resolved and the company is focusing on growth and profitability initiatives. Wylie stepped into interim CEO after the departure of former CEO Jolie Kahn, and the board is searching for a permanent replacement.
The company describes its business as centered on an Avalanche digital asset treasury, Bitcoin mining, and artificial intelligence infrastructure. Decrypt said AVAX One holds about 14 million AVAX tokens valued near $95 million and that it runs Bitcoin mining operations in Alberta, Canada, and Ohio, generating cash flow. The firm is also exploring AI infrastructure projects in what it calls the “missing middle” power range of 5 to 50 megawatts.
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