Heidmar Receives 180-Day Nasdaq Grace Period; CEO Cites Hormuz Rate Surge
Heidmar received a Nasdaq notice after its closing bid price fell below US$1 for 30 business days, triggering a 180-day grace period to regain a US$1 share price for ten consecutive days by October 19, 2026. CEO said Strait of Hormuz disruptions are causing sharp crude tanker freight rate swings.
1. Nasdaq Compliance Notice
Heidmar received written notification that its common stock’s closing bid price remained below the required US$1 threshold for 30 consecutive business days, violating Nasdaq Capital Market Listing Rule 5550(a)(2).
2. Grace Period Requirements
Under Nasdaq Listing Rule 5810(c)(3)(A), Heidmar has a 180-day grace period through October 19, 2026 to regain compliance by achieving at least US$1 per share for ten consecutive business days; trading will continue and the company’s operations are unaffected during this period.
3. CEO Comments on Tanker Rates
Heidmar’s CEO highlighted that geopolitical disruptions around the Strait of Hormuz are rapidly shifting crude tanker trade flows, vessel deployment and freight rates, a dynamic that could influence the company’s pool management revenue and market positioning.