New York - Sirius XM Nasdaq in an effort to remain listed even though the company's stock price has fallen below Nasdaq's minimum $1-per-share listing requirement.
A Nasdaq hearing panel could give the satellite-radio broadcaster until September 13 to comply with the price requirement. The company said it doesn't expect to receive written notice of the panel's decision for up to 45 days following the hearing.
Sirius XM stockholders have given the company's board the discretion to effect a reverse stock split to bring the company into compliance. The board will do so "only if it determines the action to be in the best interests of stockholders," a company statement said.