LogicMark Inc. (LGMK) shares plunged 45% on June 2, 2025, as the company’s stock began trading on the over-the-counter (OTC) markets following its delisting from the Nasdaq Capital Market.
The dramatic sell-off comes after LogicMark failed to meet Nasdaq’s minimum bid price requirement of $1.00 per share, a threshold the company had been unable to sustain in recent months despite multiple reverse stock splits and capital-raising efforts.
The delisting, effective at the opening of trading on June 2, marks a significant turning point for the Louisville-based medical device maker, best known for its personal emergency response systems (PERS) and health communication technologies.
LogicMark’s leadership, including CEO Chia-Lin Simmons, emphasized that the transition to OTC Markets will allow the company to maintain access to public capital while focusing on operational execution and long-term growth. With $15 million in cash and short-term investments reported at the end of the first quarter, the company asserts it remains financially positioned to advance its strategic priorities.
Despite these assurances, the move to OTC Markets is widely seen as a setback. OTC trading typically offers less visibility and liquidity than a national exchange, potentially making it more difficult for LogicMark to attract new investors or regain its former trading stature. The company’s stock price collapse—down 99% over the past year—underscores the depth of investor concern.
The Nasdaq delisting was triggered by LogicMark’s prolonged non-compliance with the $1.00 minimum bid price rule, as stipulated under Nasdaq Listing Rule 5550(a)(2). The company chose not to appeal the Nasdaq Hearings Panel’s decision, opting instead to begin trading on the OTC Markets under the same ticker symbol, LGMK.
LogicMark will remain a reporting entity, subject to all disclosure obligations under the Securities Exchange Act, and has indicated it will continue to evaluate options for returning to a national exchange in the future.
While LogicMark’s strong cash position and commitment to innovation in the care economy offer some hope for recovery, the immediate outlook remains challenging. The company must now work to rebuild investor confidence and demonstrate sustainable growth in a less favorable trading environment.
