The payments software vendor Goldleaf Financial Solutions Inc. announced Thursday that the Nasdaq Stock Market Inc. has warned it to raise its stock price.
Goldleaf, a Norcross, Ga., maker of software for automated clearing house transactions and check imaging and other products, said Nasdaq gave it until March 15 to raise its minimum closing price to at least $1 share. The stock has been below that threshold since last October.
The deadline might not be a big consideration for Goldleaf; it agreed in August to sell itself to a larger rival, Jack Henry & Associates Inc. of Monett, Mo., for 98 cents a share. Jack Henry has said it expects to close the deal — involving $19.2 million in cash and $42 million of assumed debt — by Sept. 30.