Cyren: Nasdaq grants Cyren 180-day extension to meet minimum bid price requirement (Form 8-K)


Nasdaq grants Cyren 180-day extension to meet minimum bid price requirement

McLean, Virginia – October 6, 2021 – Today, Cyren (NASDAQ: CYRN), an email security and threat intelligence solutions provider, announced that the company has received written notification from the NASDAQ Capital Market Listing Qualification Department (“Nasdaq Granting the Company’s request for a 180-day extension to restore compliance with the Nasdaq minimum bid price requirement under Nasdaq Listing Rule 5550 (a) (2) (the ” rule “). The Company now has until April 4, 2022 to meet the requirement.

The Nasdaq extension notice has no immediate effect on the maintenance of the listing status of the Company’s Ordinary Shares on the Nasdaq Capital Market. Therefore, Ordinary Shares remain listed on the Nasdaq Capital Market.

If, at any time until April 4, 2022, the bid price of the common shares of the Company closes at $ 1.00 or more per share for at least 10 consecutive trading days, the Company will again comply with the Rule and the case will be closed.

The Company will continue to monitor the bid price of its Ordinary Shares and will examine the various options available to it if its Ordinary Shares do not trade at a level which may return to compliance. These options include the execution of a reverse stock split. There can be no assurance that the Company will again comply with the Rule or maintain compliance with any of the other Nasdaq listing maintenance requirements.

If the Company fails to meet the minimum bid requirement during the additional 180 day extension, Nasdaq will notify the Company in writing that its Ordinary Shares will be subject to delisting. At that time, the Company can appeal the delisting decision to a Nasdaq hearing panel. The Company would remain listed pending the Panel’s decision. There can be no assurance that if the Company appeals a subsequent delisting decision, this appeal will be successful.

For more information, please see the company’s current report on Form 8-K filed with the Securities and Exchange Commission on October 6, 2021.

About Cyren

Over 1.3 billion users worldwide trust Cyren’s cloud security solutions to protect them from cyberattacks every day. Powered by the world’s largest security cloud, Cyren (NASDAQ: CYRN) delivers rapid protection time with integrated threat detection, threat intelligence and email security solutions. Learn more at www.cyren.com.

Blog: http://blog.cyren.com

LinkedIn: www.linkedin.com/company/cyren

Twitter: www.twitter.com/CyrenInc

Media contact

Angelique Faul

Code Red Safety PR

[email protected]
+1 513-633-0897

Investor contact

Kenneth Tarpey, Chief Financial Officer

Cyrene
[email protected]

+1.703.760.3435

THE SOURCE: Cyren Ltd.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements, including information about the views of management on Cyren’s future expectations, plans and prospects, in connection with the safe harbor provisions under the Private Securities. Litigation Reform Act of 1995 (the “Act”). In particular, when used in the foregoing discussion, the words “believes”, “could”, “could”, “should”, “expects”, “anticipates”, “estimates”, “has the” intention to ”,“ plan ”and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. or development, including statements regarding compliance with Nasdaq listing requirements, are forward-looking statements and are subject to material risks and uncertainties. , as well as various additional risks, many of which are now unknown and generally beyond Cyren’s control, and which are detailed from time to time in reports filed by Cyren with the SEC, including quarterly reports on Form 10-Q, r reports on Form 8-K and annual reports on Form 10-K. Cyren assumes no obligation to update any statements contained in this document (including forward-looking statements), except as required by law.

Disclaimer

Cyren Ltd. published this content on 06 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 06 October 2021 20:16:05 UTC.



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