Integra Bank Corp. in Evansville, Ind., has started trading on the Nasdaq Capital Market because of its long-depressed share price.
The $2.6 billion-asset company said Dec. 30 that its stock would move from the Global Market exchange. The transfer was in response to Nasdaq advising Integra in July that its stock had been trading under a $1 per share for 30 days. Integra had 180 days to comply with the rule.
By switching, Integra has until June 27 to regain compliance. It shares must trade above $1 per share for a 10-day period. With the transfer Integra agreed to a reverse stock split if needed.