New York –
it will remain listed on the Nasdaq market.
The satellite-radio company was informed by Nasdaq that it is in
compliance with all Nasdaq listing standards, including a minimum-bid
stock-price requirement of $1 per share.
As a result, Nasdaq canceled an April 29 hearing to review the company’s
compliance with the minimum bid price rule.
Sirius XM also said that because it remains in compliance, its
board of directors will not need to consider a reverse stock split to bring the
company into compliance.
Had the hearing been held, a Nasdaq hearing panel could have
given the satellite-radio broadcaster until Sept. 13 to comply with the price