Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stand
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On December 10, 2007, the NASDAQ Stock Market ("NASDAQ") notified Rotech Healthcare Inc. (the "Company") that for the previous 30 consecutive business days, the bid price of the Company's publicly held shares had closed below the minimum $1.00 per share requirement for continued listing on the NASDAQ Global Market pursuant to Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(e)(2), the Company is provided with one-hundred eighty (180) calendar days, or until June 9, 2008, to regain compliance with the minimum bid price requirement. If, at any time prior to June 9, 2008, the minimum bid price of the Company's publicly held shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, the NASDAQ staff will provide written notification that the Company has achieved compliance with the minimum bid price requirement. If compliance with Rule 4450(a)(5) cannot be demonstrated by June 9, 2008, then the NASDAQ staff will provide written notification to the Company that its securities will be delisted. At that time, the Company will be permitted to appeal NASDAQ's determination to a Listings Qualifications Panel.
The Company intends to monitor the bid price of its publicly held securities and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with the minimum bid price of the publicly held shares requirement by June 9, 2008.
Item 9.01. Financial Statements and Exhibits (d) Exhibits.
Exhibit Number Description 99.1 Press release dated December 14, 2007
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