Rotech hangs by a thread

Monday, March 31, 2008

ORLANDO – The NASDAQ hasn’t given up on Rotech Healthcare—yet. On Feb. 21, the NASDAQ approved Rotech’s application to transfer from the stock market’s Global Market to Capital Market listing, according to a Feb. 25 Securities and Exchange Commission filing. The provider began listing on the Capital Market, under the same symbol (ROHI), Feb. 27. The Capital Market has less restrictive continued listing requirements, including a $1 minimum bid price requirement. The NASDAQ notified Rotech on Nov. 16 that it was in danger of being delisted from the stock market for not meeting a minimum market value of $15 million. In early March, the provider was valued at $12.74 million.