Exela Technologies, Inc.: Nasdaq/NYSE listing notice — Exela Technologies receives Nasdaq delisting notice; stock bid below $0.10 for 11 consecutive days

Exela Technologies, Inc.

Jan 5, 2023: Nasdaq notified Exela securities had closing bid price <=$0.10 for 11 consecutive days, triggering delisting.
Previous non-compliance notice on Oct 12, 2022 for minimum bid price of $1; compliance period extended to Apr 10, 2023.
Exela intends to request a hearing by Jan 12, 2023 to appeal; hearing would stay delisting pending Panel decision.
Hearing requested by Jan 12 stays delisting pending decision, but no assurance of extension or favorable outcome; affects XELA and XELAP.

Key facts

Extracted from this filing and checked against the source text.

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

Exela Technologies, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(A)(iii)).

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

Exact text from the filing

January 5, 2023, the Company received notice from the Staff that the Staff had determined that as of January 4, 2023, the Company’s securities had a closing bid price of $0.10 or less for eleven consecutive trading days triggering application of Listing Rule 5810(c)(3)(A)(iii) which states in part: if during any compliance period specified in Rule 5810(c)(3)(A) a Company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security. As a resul

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Source: SEC EDGAR

accession 0001104659-23-001712

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