RYVYL Inc. (RVYL): Nasdaq/NYSE listing notice — Ryvyl receives Nasdaq notice for bid price non-compliance; faces potential delisting

RYVYL Inc.

Received Nasdaq notice on June 7, 2023, for failure to regain $1.00 minimum bid price compliance by June 5, 2023.
Not eligible for second compliance period due to not meeting $5M stockholders' equity requirement for initial listing.
Plans to submit a compliance plan to Nasdaq Hearings Panel, possibly including a reverse stock split.
Hearing request will stay suspension/delisting pending outcome; if denied, stock may be delisted from 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 0.9

RYVYL 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

June 7, 2023, the Listing Qualifications Staff of Nasdaq (the “Staff”) provided notice to the Company (the “Nasdaq Notice”) that the Company has not regained compliance with Rule 5550(a)(2) and is not eligible for a second 180 calendar day compliance period as the Company does not comply with the minimum $5,000,000 stockholder’s equity requirement for initial listing on the Nasdaq Capital Market. The Company intends to submit a plan to regain compliance to the Nasdaq Hearings Panel as part of the hearing process, which compliance plan may include conducting a reverse stock split if necessary t

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Source: SEC EDGAR

accession 0001185185-23-000636

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