Health in Tech falls out of compliance with Nasdaq board independence rules
HIT•Health in Tech received Nasdaq notices over board independence and a closing bid price below $1 for 30 consecutive business days. The board-compliance deadline is February 8, 2027, and the bid-price deadline is April 12, 2027.
1. Nasdaq notices
Health in Tech received Nasdaq noncompliance notices on October 12 and 14, 2026. The notices do not immediately affect the listing or trading of its Class A common stock.
2. Board independence
Sanjay Shrestha’s August 10 resignation left the board without an independent majority and the audit committee below its three-member minimum. The election of an independent director on November 10, 2026, followed by an audit committee appointment, is expected to restore compliance before the February 8, 2027 deadline.
3. Bid-price requirement
The closing bid price remained below $1 for 30 consecutive business days. Nasdaq requires at least 10 consecutive business days at $1 or higher by April 12, 2027; a further 180-day extension depends on eligibility.
