BROADWAY FINANCIAL CORP \DE\ (BYFC): Nasdaq/NYSE listing notice — Broadway Financial receives Nasdaq non-compliance notice; plans 1-for-8 reverse stock split

BROADWAY FINANCIAL CORP \DE\

Nasdaq notified Broadway Financial on Sept 25, 2023 that it failed to maintain minimum $1.00 bid price for 30 consecutive business days.
Company has 180 calendar days to regain compliance; must close at $1.00+ for 10 consecutive business days.
Board of Directors approved a 1-for-8 reverse stock split; Certificate of Amendment to be filed, effective Nov 1, 2023.
If not cured in initial period, company is eligible for an additional 180-day compliance period.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

BROADWAY FINANCIAL CORP \DE\ received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

September 25, 2023, Broadway Financial Corporation (the “Company”) received written notice (the “Notification Letter”) from the Nasdaq Stock Market LLC notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities maintain a minimum closing bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum closing bid price requirement exists if the deficiency continu

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BROADWAY FINANCIAL CORP \DE\ filing history →

Source: SEC EDGAR

accession 0001140361-23-045983

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