Orion Digital Corp. (NASDAQ:ORIO) (TSX:ORIO) announced today that it received a formal notification from The Nasdaq Stock Market LLC’s Listing Qualifications Department on June 25, 2026. The communication, referred to as the “Notification Letter,” indicated that the company’s common shares had failed to maintain the required minimum bid price for continued listing.
Specifically, the bid price for Orion Digital’s shares closed below the mandated US$1.00 per share for thirty consecutive business days. This deficiency places the company in non-compliance with Nasdaq Listing Rule 5550(a)(2), which stipulates the minimum bid price requirement for listed securities.
The notification highlights a critical compliance issue for the Vancouver-based digital firm, whose shares are also traded on the Toronto Stock Exchange. The receipt of such a letter typically initiates a compliance period during which the company must regain adherence to the listing standard to avoid potential delisting proceedings.
Orion Digital has publicly acknowledged the notification, underscoring the immediate challenge regarding its Nasdaq listing status. The company’s next steps will involve addressing this bid price deficiency in accordance with Nasdaq’s rules and procedures.
