05:39 AM EDT, 03/21/2024 (MT Newswires) -- Oblong (OBLG) said late Wednesday the Nasdaq Stock Market's listing department granted the company's request for a 180-day extension to regain compliance with the bourse's minimum bid price requirement.

The company said if the bid price of its common stock closes at $1 per share or more for a minimum of 10 consecutive business days at any time before Sept. 16, it would regain compliance.

The company intends to "actively monitor" the closing bid price and may also consider implementing "available options" to regain compliance.

The shares closed Wednesday at $0.1617. Ahead of Thursday's trading, they were down 4.9%, at last look.