Chicken Soup for the Soul Entertainment, Inc.: Nasdaq/NYSE listing notice — Chicken Soup for the Soul receives Nasdaq equity deficiency notice; suspends Series A preferred dividends

Chicken Soup for the Soul Entertainment, Inc.

Received Nasdaq letter Jan 5, 2024 for stockholders' equity below $10M; 45 days to submit compliance plan.
Also faces bid price deficiency (under $1 for 30 days) with cure period until March 20, 2024.
Board suspends monthly dividends on Series A Preferred Stock starting Jan 15, deferring ~$1.2M/month.
Will make special interest payment of ~$1.07M on 9.50% Notes due 2025 on Jan 30 for previously unpaid interest.
Company evaluating strategic options to regain listing compliance; no immediate delisting.

Key facts

Extracted from this filing and checked against the source text.

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

Chicken Soup for the Soul Entertainment, Inc. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2)).

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

Exact text from the filing

September 28, 2023, the Company previously received written notice (the “ Initial Notice ”) from Nasdaq indicating that the Company was not in compliance with the Rules because for the prior 30 consecutive business days (through September 21, 2023), the closing bid price of the Company’s Class A Common Stock, $0.0001 par value per share (“common stock”) had been below the minimum of $1 per share required for continued listing on the Nasdaq under Nasdaq Rule 5550(a)(2). The Notice stated that the Company would be afforded 180 calendar days (until March 20, 2024) to regain compliance. In order t

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

Chicken Soup for the Soul Entertainment, Inc. received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5550(a)(2)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5550(a)(2)

Exact text from the filing

Rules because for the prior 30 consecutive business days (through September 21, 2023), the closing bid price of the Company’s Class A Common Stock, $0.0001 par value per share (“common stock”) had been below the minimum of $1 per share required for continued listing on the Nasdaq under Nasdaq Rule 5550(a)(2). The Notice stated that the Company would be afforded 180 calendar days (until March 20, 2024) to regain compliance. In order to regain compliance, the closing bid price of the Company’s common stock must be at least $1 for a minimum of ten consecutive business days. The notification lett

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Source: SEC EDGAR

accession 0001104659-24-003029

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