Long Island Iced Tea Corp. gets delisting notice from Nasdaq
Long Island Iced Tea Corp., a Hicksville-based maker of ready-to-drink iced tea, says it has received a delisting notice from the Nasdaq Stock Market. Credit: Long Island Ice Tea Corp.
Long Island Iced Tea Corp. has received a delisting notice from the Nasdaq Stock Market, the company said.
The Nasdaq’s notification letter said the market value of the company’s listed securities had fallen below the $35 million minimum required for continued listing on the Nasdaq Capital Market, the Hicksville-based maker of ready-to-drink beverages said in a government filing Friday.
The Nasdaq said Long Island Iced Tea would have until April 9, 2018, to regain compliance.
A call to the company seeking comment was not immediately returned. In the Securities and Exchange Commission filing the company said it would “consider all available options to regain compliance.”
The Nasdaq Capital Market is one of three tiers of the Nasdaq Stock Market.
Shares of Long Island Iced Tea gained 1.09 percent to close Monday at $2.44. The stock has declined almost 60 percent in the past 12 months.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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