OceanFreight Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement
News Release
OceanFreight, Inc.
July 22, 2011
July 21, 2011 - Athens, Greece - OceanFreight Inc. (NASDAQ: OCNF) (the “Company”) today
announced that it has regained compliance with the minimum bid price requirement set forth in
NASDAQ Listing Rule 5450(a)(1).The Company received a letter from The NASDAQ Stock
Market (the “NASDAQ”) dated July 20, 2011 confirming that the closing bid price of the
Company’s common stock has been at $1.00 per share or greater for at least 10 consecutive
business days, from July 6, 2011 through July 19, 2011.
.
As previously announced, on January 25, 2011, the Company received a notice from the
NASDAQ staff indicating that the Company was not in compliance with the $1.00 minimum bid
price requirement for continued listing on the NASDAQ Global Market, as set forth in Listing
Rule 5450(a)(1). The Company was provided a grace period of 180 days to regain compliance
with Listing Rule 5450(a)(1). As a result of the Company having satisfied the minimum bid
requirement for at least 10 consecutive business days, the NASDAQ staff has advised the
Company that this matter is now closed
announced that it has regained compliance with the minimum bid price requirement set forth in
NASDAQ Listing Rule 5450(a)(1).The Company received a letter from The NASDAQ Stock
Market (the “NASDAQ”) dated July 20, 2011 confirming that the closing bid price of the
Company’s common stock has been at $1.00 per share or greater for at least 10 consecutive
business days, from July 6, 2011 through July 19, 2011.
.
As previously announced, on January 25, 2011, the Company received a notice from the
NASDAQ staff indicating that the Company was not in compliance with the $1.00 minimum bid
price requirement for continued listing on the NASDAQ Global Market, as set forth in Listing
Rule 5450(a)(1). The Company was provided a grace period of 180 days to regain compliance
with Listing Rule 5450(a)(1). As a result of the Company having satisfied the minimum bid
requirement for at least 10 consecutive business days, the NASDAQ staff has advised the
Company that this matter is now closed