QualTek Services Inc.: Nasdaq/NYSE listing notice — QualTek Services receives Nasdaq delisting notices for low MVLS and sub-$1 bid price; cure periods until July 2023

QualTek Services Inc.

MVLS was below $35M for 30 consecutive business days; 180-day cure period ends July 3, 2023.
Class A common stock closing bid price below $1 for 30 consecutive days; cure period ends July 5, 2023.
No immediate impact on listing; securities continue trading on Nasdaq during cure periods.
If not cured, securities may be delisted; company can appeal to Hearings Panel.

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 0.95

QualTek Services 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

January 5, 2023, the Company received a letter (the “ Minimum Bid Price Notice ”) from the Staff notifying the Company that its Class A common stock, $0.0001 par value per share (the “ Common Stock ”), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “ Minimum Bid Price Rule ”) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. The Minimum Bid Price Notice has no immediate effect on the listing of the Common Stock

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Source: SEC EDGAR

accession 0001104659-23-001879

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