Federal Register #SR-NASDAQ-2026-082

Nasdaq proposes a $4 minimum share price for initial Nasdaq Capital Market listings

This SEC notice describes a Nasdaq proposal to tighten initial listing requirements for the Nasdaq Capital Market. - Government agency: U.S. Securities and Exchange Commission (SEC), which published the notice and is soliciting public comments. - Proposing organization: The Nasdaq Stock Market LLC. - Proposed requirement: Set a minimum share price of $4 for all companies initially listing on the Nasdaq Capital Market. - The proposal would eliminate the Alternative Price Requirement, which currently allows some qualifying companies to list below $4. - Nasdaq would retain and revise Listing Rule IM-5505-2 to address companies that previously listed under the former alternative requirement, including related monitoring provisions. - The rule change became effective upon filing, with operation intended after a 30-day transition period. - This is a regulatory notice, not a procurement opportunity; no products, services, quantities, or part numbers are requested.

Description

The Nasdaq Stock Market LLC proposes to amend Listing Rule 5505 to require a minimum $4 price in all instances for initial listing on the Nasdaq Capital Market. The proposal removes the Alternative Price Requirement, which currently permits certain companies to list at prices below $4 if they meet additional financial requirements. It also retains and revises Listing Rule IM-5505-2 to address companies previously listed under the former requirement. Nasdaq intends for the change to become operative 30 days after filing.

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