Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) announced today that it received a letter from the listing qualifications department staff of The NASDAQ Stock Market LLC, stating that the Company has regained compliance with NASDAQ's minimum $1.00 per share bid price requirement.
The letter received noted that for 10 consecutive business days, from February 23, 2012 to March 7, 2012, the closing bid price of the Company's common stock was $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1) and the matter is closed.
About Rodman & Renshaw Capital Group, Inc.
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC and Direct Markets, Inc.Rodman & Renshaw, LLC is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. The company also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent by deal volume of PIPE and RD financing transactions completed every year since 2005. For more information visit Rodman & Renshaw on the Internet at www.rodm.com. About Direct Markets, Inc. A subsidiary of Rodman & Renshaw Capital Group, Inc., Direct Markets, Inc. will operate an automated state-of-the-art electronic transaction platform to directly link existing public company issuers and investors seeking to transact primary offerings of securities. Direct Markets will bring unprecedented, cost-efficient access to the capital markets into the C-Suite of public companies and bypass certain traditional roles typically held by investment banks that presently control the transactional process. Both investors and issuers will benefit from 24/7 seamless access to Direct Markets' platform through a graphical user interface (GUI) accessible via a desktop or laptop computer, as well as mobile smart devices such as tablets or smartphones.