MSP Recovery, Inc. (MSPR): Nasdaq/NYSE listing notice — MSP Recovery receives Nasdaq delisting notice over low bid price; plans reverse stock split

MSP Recovery, Inc.

Nasdaq notified MSP Recovery on Sept 5, 2023 of delisting due to closing bid price of $0.10 for 10 consecutive trading days.
Company will appeal delisting determination; hearing expected 30–45 days after appeal filing.
Majority stockholders (86.9%) authorized reverse stock split at ratio from 1:3 to 1:300 to regain compliance.
Also authorized amendment to include officer exculpation provision under DGCL.

Key facts

Extracted from this filing and checked against the source text.

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

MSP Recovery, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(3)(A)(iii), 5450(a)(1)).

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

Exact text from the filing

September 5, 2023, the Company received a determination from the Staff that the Company’s Class A common stock, par value $0.0001 (“ Class A Common Stock ”), had a closing bid price of $0.10 for 10 consecutive trading days during a compliance period and so, pursuant to Listing Rule 5810(3)(A)(iii), the staff determined to delist the Company’s securities from The Nasdaq Capital Market (the “ Delisting Determination ”). Pursuant to the procedures set out in the Nasdaq Listing Rules, the Company will appeal the Delisting Determination to a hearing panel (the “ Hearing ”), which will suspend the D

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MSP Recovery, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-047258

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