Nasdaq requires $4 minimum price for all new Capital Market listings
All companies seeking initial listing on the Nasdaq Capital Market must meet a $4 per share price, effective immediately with a 30-day implementation period.
On September 30, 2026, The Nasdaq Stock Market LLC filed a proposed rule change (Release No. 34-106614; File No. SR-NASDAQ-2026-082) to amend Listing Rule 5505. The amendment would eliminate the existing Alternative Price Requirement and require a minimum $4 closing price for any security seeking initial listing on the Nasdaq Capital Market.
The Exchange explains that the $4 threshold aligns Nasdaq's initial listing standards with those of other national securities exchanges, after NYSE American removed its below-$4 listing option. Companies that previously qualified under the Alternative Price Requirement will remain listed, but Nasdaq will continue to publish a list of such issuers on its website under Listing Rule IM-5505-2 and will monitor compliance with penny-stock exclusions.
The rule change is slated to become operative 30 days after the filing date. Under Section 19(b)(3)(A) of the Securities Exchange Act and Rule 19b-4(f)(6), the amendment is deemed effective immediately, and the Commission may suspend it within 60 days of filing if deemed necessary. No comments were received during the solicitation period.
The notice, published in the Federal Register (Vol. 91, No. 196, pages 65017-65019; FR Doc No. 2026-20808), invites interested persons to submit written comments electronically within the standard comment window.
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