Strive, Inc. (ASST): Nasdaq/NYSE listing notice — Asset Entities receives Nasdaq minimum bid price deficiency notice; extends equity line with Triton to Dec 30, 2023

Strive, Inc.

Nasdaq notified ASST on Sep 28, 2023 that stock failed to maintain $1.00 bid for 30 consecutive days; 180-day cure period until Mar 26, 2024.
Company delivered first closing notice to Triton for 263,410 shares (~4.9% of outstanding) under amended equity line with $1M capacity, extended to Dec 30, 2023.
Purchase price for Triton shares set at 85% of lowest VWAP over five business days after delivery; closing within five business days after receipt.
Boustead Securities entitled to 7% cash fee and 1% expense allowance, plus warrant for 18,439 shares on this closing.
Company may sell additional shares to Triton up to $1M aggregate value less first tranche until Dec 30, 2023.

item 1.01 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Strive, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

September 28, 2023, the Company received a written notification (the “Notification Letter”), from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market tier of Nasdaq. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Strive, Inc. entered into Amended and Restated Closing Agreement with Triton Funds LP valued at $1,000,000 (effective 2023-08-01).

Action: entry
Agreement: equity purchase
Counterparty: Triton Funds LP
Value: $1,000,000
Effective: 2023-08-01

Exact text from the filing

Item 1.01 Entry into a Material Definitive Agreement. As previously reported in its Current Report on Form 8-K filed on August 7, 2023, on August 1, 2023, Asset Entities Inc., a Nevada corporation (the “Company”), entered into an Amended and Restated Closing Agreement (the “Amended and Restated Closing Agreement”) with Triton Funds LP, a Delaware limited partnership (“Triton”).

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Strive, Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-001126

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