Legacy IMBDS, Inc.: Nasdaq/NYSE listing notice — iMedia Brands transfers to Nasdaq Capital Market; gets until Oct 9 to regain $1 bid compliance

Legacy IMBDS, Inc.

Transferred from Nasdaq Global Market to Capital Market effective Apr 24, 2023 due to bid price below $1.00 for 30 consecutive days.
Granted additional 180-day grace period to Oct 9, 2023 to regain compliance; need $1.00 bid for 10 consecutive days.
Company plans to use reverse stock split if necessary to cure deficiency; delisting risk remains if not met.
Common stock continues to trade under symbol IMBI on Nasdaq Capital Market.

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

Legacy IMBDS, Inc. received a nasdaq extension granted notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: extension granted
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

2022, that for the preceding 30 consecutive business days, the closing bid price of our common stock listed on Nasdaq was below $1.00 per share and therefore we did not comply with the minimum closing bid price requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). In anticipation of not regaining compliance with Nasdaq Listing Rule 5450(a)(1) by April 12, 2023, the end of our initial 180-day grace period, we applied to transfer the listing of our common stock to the Nasdaq Capital Market. We are now being afforded an additional 180-day grace perio

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Source: SEC EDGAR

accession 0001104659-23-048700

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