Accuray moved its listing down a Nasdaq tier at Thursday's opening bell, and the move is what buys it another 180 days to get its share price back above a dollar
Accuray bought itself six more months on Thursday, and it paid for them by moving down a tier.
The company received approval from Nasdaq's Listing Qualifications Department on 4 August to transfer its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market, and the shares transferred at the opening of business on 6 August. The ticker is unchanged. In the same filing, the company records that it has been granted an additional 180 day period, or until 1 February 2027, to demonstrate compliance with the $1.00 bid price requirement.
Where the first period ended
That deadline only makes sense against an earlier one.
Accuray disclosed in February that it had received a notice on 2 February saying that, on the closing bid price for the previous 30 consecutive business days, it was no longer in compliance with Nasdaq's bid price rule. The rule requires a minimum bid of one dollar a share. Nasdaq gave it 180 calendar days, running to 3 August 2026, and set the cure test out plainly: a closing bid of at least $1.00 for a minimum of ten consecutive business days.
The first period ended on a Monday. The transfer was approved on the Tuesday.
The second window is not free
The February filing also described what the extension would require, and the list is longer than an application form.
A company seeking the second 180 days under Nasdaq's rule has to submit a transfer application and pay a fee. It has to meet the continued listing requirement for market value of publicly held shares, and all other initial listing standards for the Capital Market, with the bid price rule alone excepted. And it has to give Nasdaq written notice of its intention to cure the deficiency during the second period, by effecting a reverse stock split if necessary.
That last condition is the one that changes the shape of the problem. In the first period a company can simply wait and hope the price recovers. In the second it has told the exchange, in writing, what it will do if the price does not.
Thursday's filing does not say a split has been decided on, and it names no price. It records an approval, a transfer, and a date in February.
