Nasdaq warns restaurant chain Cosi it could be delisted due to low stock price; Cosi to appeal

Nasdaq warns Cosi of possible delisting

DEERFIELD, Ill. — Restaurant chain Cosi Inc. said Monday that it received a warning from the Nasdaq Stock Market that it could face delisting because of its low share price.

The stock has closed below $1 since June 2009. The exchange requires companies to maintain an average $1 per share price to remain listed.

Shares lost a penny to 80 cents during afternoon trading Monday.

Cosi said it plans to appeal the warning and said it has a plan to help boost its share price over $1 which could include a reverse stock split if approved by shareholders.