Coldwater Creek warned to raise its stock price or face stock-exchange delisting

newsroom@idahostatesman.comJanuary 9, 2014 

Coldwater Creek, the women's retailer based in Sandpoint, could lose its spot on the Nasdaq stock exchange unless it raises its share price to $1 — a closing price unseen since the fall — for 10 consecutive days.

It has 180 days, or until July 1, to meet that requirement.

The company filed a notice Wednesday saying it had received a letter Jan. 2 from the Nasdaq Stock Market, which requires companies to have closing prices of at least $1 over 30 consecutive business days to stay listed.

The Nasdaq staff could decide to extend the 10-day period to 20 days if it isn't sure Coldwater Creek can maintain long-term compliance.

"Delisting could have a material adverse effect on the price of the company's shares and the company's ability to issue additional securities or secure financing," Coldwater Creek said in a notice to the Securities and Exchange Commission. That's because its stock could be traded instead on over-the-counter markets, on an electronic bulletin board.

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