Paragon Regains Compliance with NASDAQ’s Minimum Closing Bid Price

Paragon-NYSE

Paragon Shipping Inc. announced that it has received a letter from NASDAQ, indicating that the Company has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the NASDAQ Capital Market, pursuant to the NASDAQ marketplace rules. Since November 11, 2015, Paragon was eligible for an additional 180 calendar day period to regain compliance.

For at least 10 consecutive business days from March 1 to March 14, 2016, the closing bid price has been greater than $1.00. NASDAQ indicated within its letter that since the Company has regained compliance with Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”), this matter is now closed.

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