NEVE YARAK, Israel – N2OFF, Inc. (NASDAQ: NITO), a clean technology company specializing in sustainable energy and agritech solutions, has been granted an additional period of 180 days, until July 7, 2025, to comply with the Nasdaq minimum bid. price requirement, the company announced Tuesday. Currently trading at $1.37, the stock has shown notable momentum with an increase of 452% in the past week. The Nasdaq Listing Qualifications Department provided formal notice that N2OFF has until the specified date to ensure that the closing offering price of its common stock is at least $1.00 per share for a minimum of 10 business days. consecutive negotiations. InvestingPro data reveals 12 additional investment insights into NITO’s current market position.
Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the extension was granted based on N2OFF’s compliance with the market value of the public shares and all other initial listing standards on the Nasdaq Capital Market, except the offer price. . The company, with a market capitalization of $15.63 million, maintains a strong financial position with zero debt and a healthy current ratio of 6.52, according to InvestingPro analysis. The company has expressed its intention to resolve the deficiency in the offering price and may consider a reverse stock split if necessary.
Nasdaq’s notice does not currently affect the listing or trading of N2OFF shares, and the shares continue to trade on the Nasdaq Capital Market under the symbol NITO. The stock has demonstrated significant volatility, trading between $0.16 and $3.49 over the last 52 weeks.
N2OFF, formerly known as Save Foods, Inc., focuses on integrated solutions to reduce greenhouse gas emissions and improve safety and quality in the agricultural technology market. Its majority-owned Israeli subsidiary, NTWO OFF Ltd., offers a novel approach to reducing nitrous oxide emissions. The company has also recently entered the solar photovoltaic market, supporting Solterra Renewable Energy Ltd. in a 111 MWp capacity project.
The company maintains a minority interest in Plantify Foods, Inc., a TSXV-listed Canadian company that provides clean label, healthy food options.
This announcement contains forward-looking statements that are subject to risks and uncertainties, including market conditions, as detailed in N2OFF’s Annual Report and filings with the SEC. The company undertakes no obligation to update these statements in light of new information or future events. This article is based on a press release.
In other recent news, N2OFF, Inc. has made substantial progress in both the agricultural and renewable energy sectors. The company completed a private placement of equity securities, generating gross proceeds of $1.5 million. N2OFF also completed the sale of new shares and warrants, providing additional capital to support its operations.
In a strategic move, N2OFF has expanded into the European energy storage market through a partnership with Solterra Ltd’s subsidiary in Italy. The company has also made significant progress on its solar PV project in Germany, receiving key approval from the Melz municipal committee.
N2OFF also settled outstanding debt by acquiring a majority stake in Plantify Foods, Inc. Additionally, N2OFF subsidiary Save Foods Ltd. signed a non-binding letter of intent with an Ethiopian federal entity, GENSIS PM TDC, which will potentially generate revenue significant. .
InvestingPro analysts forecast revenue growth of approximately 31% for N2OFF in the current year. These developments reflect the company’s recent efforts to strengthen its capital structure and support its business operations. Please note that these are recent developments and are subject to change.
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