Nasdaq Hikes Minimum Market Value for Listed Companies
Published Date: 9/19/2025
Notice
Summary
Nasdaq is raising the minimum public market value for companies listing under the net income rule to $15 million. If a company falls below key listing rules and its market value is under a certain level, Nasdaq will delist it immediately—no grace period. These changes affect companies on Nasdaq and aim to keep the market strong and trustworthy, starting as soon as the rules are approved.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Immediate Delisting for Very Low-Value Firms
If a Nasdaq-listed company becomes non-compliant with numeric listing requirements and its Market Value of Listed Securities falls below $5,000,000 for 10 consecutive business days, Nasdaq will suspend trading and immediately delist the company instead of providing a compliance period. This change applies to new notices of non-compliance beginning 60 days after SEC approval.
Higher $15M Public-Float Requirement
If you run or plan to take a company public on Nasdaq under the net income listing standard, Nasdaq raises the minimum Market Value of Unrestricted Publicly Held Shares (MVUPHS) to $15,000,000. This replaces the prior $5,000,000 (Capital Market) and $8,000,000 (Global Market) minimums for net-income listings and becomes operative for companies listing 30 days after SEC approval.
If Your Stock Is Suspended, It Trades OTC
If a Nasdaq-listed company is suspended and delisted under the new rule (MVLS under $5,000,000 for 10 consecutive business days), its securities will be suspended from Nasdaq and will trade in the over-the-counter (OTC) market while the company appeals. A Hearings Panel can reinstate Nasdaq trading or, in some cases, grant up to a 180-day exception, but trading is expected to remain OTC during the appeal or exception period.
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