Minimum Nasdaq price is USD 1.00 If it falls below that level for 30 consecutive business days the company is deemed non-compliant and issued with deficiency notice.
I would suggest if IMU dual list in Nasdaq they will bundle up X shares (possibly 10/20) and convert into 1 ADR (American Depository Receipt) managed by US bank - eg NY Mellon.
Shares are purchased by US bank on ASX market and then bundled to ratio agreed ready to sell on Nasdaq
There are usually compelling reasons to dual list. In IMUs case; Outstanding trial(s) data a must.
The upside (given above) is that after consolidation there will be significantly fewer shares to acquire and therefore in theory supply limitations should create a higher M/C.
IMU Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)