Instead of remedying violations to Nasdaq rules for continued listing, TRX has decided to cease Nasdaq trading.
The travel technology company is no longer in compliance with Nasdaq’s requirements of a $1 minimum bid price and a minimum of $2.5 million in stockholders' equity.
Efforts to regain compliance could be "expensive and dilutive," TRX said.
TRX’s common stock will be removed from listing and quotation on the Nasdaq Capital Market on April 1.
"Our common stock has been trading by appointment for some time," CEO Shane Hammond said in a statement. "We expect it will continue to trade over-the-counter, and view this change as inconsequential for our clients and employees."
TRX provides tools for online booking, reservation processing, data intelligence and process automation for travel buyers, suppliers and intermediaries.
