Vroom, Inc. (VRM): Nasdaq/NYSE listing notice — Vroom receives Nasdaq notice of non-compliance with $1.00 bid price requirement

Vroom, Inc.

Received Nasdaq notice on April 14, 2023 for failure to maintain $1.00 minimum bid price for 30 consecutive business days.
Has 180 days, until October 11, 2023, to regain compliance by closing at $1.00+ for at least 10 consecutive business days.
If not compliant by then, may transfer to Nasdaq Capital Market for an additional 180-day period.
Intends to consider options including a reverse stock split to regain compliance.
No immediate effect on listing; common stock continues trading under symbol VRM.

Key facts

Extracted from this filing and checked against the source text.

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

Vroom, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H)

Exact text from the filing

April 14, 2023, Vroom, Inc. (the “Company”) received written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock (the “Common Stock”) had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”). The Notice has no immediate effect on the listing of the Common Stock, which continues to trade on the Nasdaq Global Select Mark

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Vroom, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-012924

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