U.S. Concrete faces potential Nasdaq delisting for its common stock

By Jennifer Chiou

New York, March 8 - U.S. Concrete Inc. announced that, as expected, it has received a Nasdaq letter indicating that the bid price of its common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing under the Nasdaq Marketplace Rules.

The company now has an initial period of 180 calendar days, or until Sept. 7, to regain compliance, according to a news release.

U.S. Concrete will regain compliance when its shares close at $1.00 or more each for a minimum of 10 consecutive business days. The shares closed at $0.79 each on Monday.

If the company fails to regain compliance, it will receive written notification that its securities are subject to delisting.

U.S. Concrete is a Houston-based maker of ready-mixed concrete, concrete-related products and precast concrete.

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