Leafly Holdings, Inc. /DE: Nasdaq/NYSE listing notice — Leafly receives Nasdaq delisting notice for bid price noncompliance; plans reverse stock split

Leafly Holdings, Inc. /DE

Received Nasdaq delisting notice on May 2, 2023 for failing to maintain minimum $1.00 bid price.
Company requested hearing on May 8, 2023; hearing stays delisting pending outcome.
Plans to seek shareholder approval for reverse stock split at upcoming annual meeting to regain compliance.
Previously disclosed market value deficiency resolved by transferring to Nasdaq Capital Market on April 21, 2023.
No assurances of success; if bid price not cured, common stock may be delisted from Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

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

Leafly Holdings, Inc. /DE received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

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

Exact text from the filing

May 2, 2023, the Company received a letter from Nasdaq notifying it that the Company's Common Stock would be subject to delisting from Nasdaq unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the "Panel"). The Panel has the discretion to grant the Company up to an additional 180 calendar days from May 2, 2023, to regain compliance with the Bid Price Rule. On May 8, 2023, the Company timely requested a hearing before the Panel at which it will present its detailed action plan to comply with the Bid Price Rule by effecting a reverse stock split, if necessary, and reque

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Source: SEC EDGAR

accession 0000950170-23-018830

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