GSE SYSTEMS INC: Nasdaq/NYSE listing notice — GSE Systems receives Nasdaq delisting determination for missing reverse-split deadline

GSE SYSTEMS INC

On Oct 31, Nasdaq staff determined GSE failed to regain compliance after missing Oct 17 reverse-split deadline.
Reverse stock split (1-for-10) effective Oct 30, but was required 10 trading days before compliance deadline.
Company appealed on Nov 1; hearing before Nasdaq Panel scheduled for Feb 1, 2024; delisting stayed.
If minimum bid price is maintained through Nov 10, Nasdaq may withdraw determination and moot hearing.
No assurance of continued listing; stock trades on Nasdaq Capital Market under symbol GVP.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

GSE SYSTEMS INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

October 31, 2023, the Company received a telephone call from the staff of Nasdaq notifying the Company that, due to the Company’s failure to effectuate the Reverse Stock Split by October 17, 2023, and to establish ten trading dates to satisfy the Minimum Bid Price Requirement, the Company failed to establish compliance with the Minimum Bid Price Requirement per Nasdaq Listing Rule 5550(a)(2). Nasdaq followed with a written staff determination letter dated October 31, 2023 (the “Staff Determination”), which provides that the Company had not regained compliance with the Minimum Bid Price Requ

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Source: SEC EDGAR

accession 0000944480-23-000085

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