CUMULUS MEDIA INC (CMLS): Nasdaq/NYSE listing notice — Cumulus Media receives NASDAQ delisting notice for bid price below $1.00

CUMULUS MEDIA INC

On Dec 16, 2024, NASDAQ notified Cumulus Media (CMLS) of non-compliance with bid price rule (below $1.00 for 30 consecutive days).
Company has until June 16, 2025 to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not cured by June 16, 2025, Cumulus may qualify for an additional 180-day extension if it meets other listing standards.
Company is evaluating options to resolve the deficiency, but there is no assurance of regaining compliance.

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

CUMULUS MEDIA INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

December 16, 2024, Cumulus Media Inc. (the “Company”) received a notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company is not in compliance with NASDAQ Listing Rule 5550(a)(2) (the “Rule”) because the bid price of the Company’s Class A common stock on The Nasdaq Global Market has closed below $1.00 per share for 30 consecutive business days. The NASDAQ letter has no immediate effect on the NASDAQ listing or trading of the Company’s Class A common stock. In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has

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Source: SEC EDGAR

accession 0001058623-24-000109

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