JOANN Inc.: Nasdaq/NYSE listing notice — JOANN receives Nasdaq deficiency notices for market value below $50M

JOANN Inc.

Received Nasdaq notice on July 20, 2023: market value of common stock below $50M for 30 consecutive business days.
Also received notice that publicly held market value below $15M for 30 consecutive business days.
Compliance period ends January 16, 2024; stock continues trading on Nasdaq Global Market.
To regain compliance, market value must close at or above thresholds for 10 consecutive business days.
Company considering options but no assurance of regaining compliance; potential delisting if not cured.

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 0.95

JOANN Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(2)(C)

Exact text from the filing

July 20, 2023 (the “Notice Date”), JOANN Inc. (the “Company”) received a written notice (the “Market Value Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with the requirement to maintain a minimum market value of listed securities of at least $50 million, as set forth in Nasdaq Listing Rule 5450(b)(2)(A) (the “Market Value Standard”), because the market value of the Company’s common stock (the “Common Stock”) was less than $50 million for 30 consecutive business days. Also on the Notice Date, the Company recei

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Source: SEC EDGAR

accession 0000950170-23-033844

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