LM FUNDING AMERICA, INC. (LMFA): Nasdaq/NYSE listing notice — LM Funding America receives Nasdaq bid-price deficiency notice; granted 180-day cure period

LM FUNDING AMERICA, INC.

Received Nasdaq notice on Dec 13, 2022 that bid price below $1.00 for 30 consecutive days; non-compliant with Listing Rule 5550(a)(2).
Automatic 180-day grace period to regain compliance; must have closing bid >= $1.00 for 10 consecutive business days.
If not compliant by June 12, 2023, may face delisting; considering options including reverse stock split.
Notice does not affect business operations or SEC reporting requirements.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

LM FUNDING AMERICA, INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

December 13, 2022, LM Funding America, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s consolidated closing bid price has been below $1.00 per share for 30 consecutive business days as of December 13, 2022, and that, therefore, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which is the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The notice does not result in the immediate delisting of the Company’s common stock from The Nasdaq Capital Market. Pursuant to Nasdaq Listing

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LM FUNDING AMERICA, INC. filing history →

Source: SEC EDGAR

accession 0000950170-22-026677

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