K Wave Media said on Wednesday it has regained compliance with Nasdaq’s minimum bid price requirement after maintaining a closing bid price of at least $1.00 for 10 consecutive business days from August 4 through August 17.
The Nasdaq Stock Market confirmed the compliance under Listing Rule 5550(a)(2), closing the matter. The company, which trades under the ticker KWM, said the issue is now resolved.
K Wave Media also announced plans to complete a corporate name change to Nexus Advanced Technologies Inc. by the end of next week. Upon completion, the stock will trade under the new ticker symbol NXAT.
Chief Executive Officer Ted Kim said maintaining the Nasdaq listing remains important as the company pursues strategic growth opportunities, particularly in artificial intelligence.
K Wave Media describes itself as a publicly traded company focused on identifying and executing strategic initiatives in the AI sector.
