JOANN Inc.: Nasdaq/NYSE listing notice — JOANN receives Nasdaq bid-price deficiency notice; stock below $1.00 for 30 days

JOANN Inc.

Nasdaq notice on Oct 19, 2023: closing bid price below $1.00 for 30 consecutive business days.
Company has 180 days (until April 16, 2024) to regain compliance by closing at $1.00+ for 10 consecutive days.
If not cured, JOANN may apply for transfer to Nasdaq Capital Market for an additional 180-day cure period.
Company also faces prior non-compliance notices from July 2023 for market value standards (deadline Jan 16, 2024).
Management is exploring options but gives no assurance of regaining compliance with any Nasdaq criteria.

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 0.9

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

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

Exact text from the filing

October 19, 2023 (the “Notice Date”), JOANN Inc. (the “Company”) received a written notice (the “Bid Price 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 closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”), because the closing bid price of the Company’s common stock, par value $0.01 per share (the “Common Stock”), was below $1.00 per share for 30 consecutive business days. The Bid Price Notice provided tha

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Source: SEC EDGAR

accession 0000950170-23-054393

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