Beleaguered internet ad agency Razorfish has been sent a delisting notice by the Nasdaq, according to a filing with the Securities and Exchange Commission.
In a letter received on July 10, the bourse gave the i-shop ninety days to raise its stock over $1 for ten consecutive days. Razorfish shares currently trade at around 50 cents.
The agency said it would do everything possible to meet the Nasdaq’s criteria. Razorfish is currently attempting to raise $30 million.
News source: Advertising Age - Interactive Daily