Connecture, a company that sells Web-based software designed to aid consumers shopping for health plans, said Friday it plans to withdraw its shares from the Nasdaq stock exchange next month.
Brookfield, WI-based Connecture (NASDAQ: CNXR) went public in 2014. Since then, the company’s shares have been listed on the Nasdaq Global Market (NGM), the middle of the exchange’s three market tiers.
Nasdaq requires that companies listed on the exchange each have a market capitalization of at least $15 million. Additionally, the stock price of Nasdaq-listed business must remain at or above $1, on average. Connecture said Friday that it has at times previously failed to meet one or both requirements. In May, Nasdaq sent Connecture a deficiency notice that warned the company it could soon be delisted for not meeting the $15 million market cap minimum. Read the full story here.