Kaspien Holdings Inc.: Nasdaq/NYSE listing notice — Kaspien receives second Nasdaq deficiency notice for stockholders' equity

Kaspien Holdings Inc.

Nasdaq notified Kaspien of non-compliance with minimum stockholders' equity requirement (Rule 5550(b)(1)) on May 4, 2023.
Company has 45 days, until June 20, 2023, to submit a compliance plan; extension possible to Oct 31, 2023.
Prior bid price deficiency (Rule 5550(a)(2)) remains pending with compliance deadline of June 12, 2023.
If plan is rejected, Nasdaq will issue delisting notice; no immediate impact on KSPN trading.
Company evaluating options to resolve both deficiencies.

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

Kaspien Holdings 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 15, 2022, Kaspien Holdings Inc. (the “Company”) had received written notice from The Nasdaq Stock Market (“Nasdaq”) that the Company is not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2), and must regain compliance with that requirement by June 12, 2023. Separately, on May 4, 2023, the Company received written notice from Nasdaq that given the reported stockholders’ equity on the Company’s Form 10-K for the year ended January 28, 2023, the Company also is not in compliance with the minimum

View on SEC.gov

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

Kaspien Holdings Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

May 4, 2023, the Company received written notice from Nasdaq that given the reported stockholders’ equity on the Company’s Form 10-K for the year ended January 28, 2023, the Company also is not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1). In accordance with the Nasdaq Listing Rules, the Company has been provided a period of 45 calendar days, or until June 20, 2023, to submit a plan to Nasdaq to regain compliance with the minimum stockholders’ equity requirement. If the Company’s plan i

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Source: SEC EDGAR

accession 0001140361-23-023702

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