RADA Receives Non-Compliance Notice Regarding NASDAQ Minimum Bid Price Requirement

RADA Electronic Industries Ltd. RADA announced today that on October 1, 2015 it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that it was not in compliance with Nasdaq's requirement that listed securities maintain a minimum bid price of $1.00 per share as set forth in the Nasdaq Listing Rules. RADA has a 180 day period, until March 29, 2016, to regain compliance with the $1.00 minimum bid price requirement. If at any time during this 180 day period the closing bid price of the Company's securities is at least $1.00 for a minimum of ten consecutive business days, the Company will regain compliance and the matter will be closed. In the event the Company does not regain compliance, it may be eligible for an additional 180 calendar days' extension to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary.