EDUCATIONAL DEVELOPMENT CORP (EDUC): Nasdaq/NYSE listing notice — Educational Development receives Nasdaq deficiency notices for bid price and board independence

EDUCATIONAL DEVELOPMENT CORP

Bid price below $1.00 from Oct 23 to Dec 3, 2023; 180-day cure period granted.
Second deficiency: lack of majority independent directors and audit committee; cure by Nov 10, 2024 or May 8, 2024.
No immediate delisting; shares continue trading on Nasdaq under EDUC.
Company engaged with Nasdaq and developing plans to regain compliance.

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

EDUCATIONAL DEVELOPMENT CORP received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(A)(i)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(A)(i)

Exact text from the filing

December 5, 2023, Educational Development Corporation (the “ Company ”) received a deficiency letter (the “1 st Deficiency Letter ”) from NASDAQ Regulation (the “ NASDAQ ”) indicating that the Company is not in compliance with the NASDAQ continued Listing Rules (“Rules”) set forth in Section 5450(A)(i) because its shares of common stock, par value $0.20 per share (the “ Common Stock ”), have been selling below $1.00 per share during the period between October 23,2023 and December 3, 2023. However, as also indicated in the 1 st Deficiency Letter, the Rules provide the Company a compliance perio

View on SEC.gov

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

EDUCATIONAL DEVELOPMENT CORP received a nasdaq deficiency notice notice regarding board independence (rules 5605).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence
Rules: 5605

Exact text from the filing

December 5, 2023, Educational Development Corporation (the “ Company ”) received a deficiency letter (the “1 st Deficiency Letter ”) from NASDAQ Regulation (the “ NASDAQ ”) indicating that the Company is not in compliance with the NASDAQ continued Listing Rules (“Rules”) set forth in Section 5450(A)(i) because its shares of common stock, par value $0.20 per share (the “ Common Stock ”), have been selling below $1.00 per share during the period between October 23,2023 and December 3, 2023. However, as also indicated in the 1 st Deficiency Letter, the Rules provide the Company a compliance perio

View on SEC.gov

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EDUCATIONAL DEVELOPMENT CORP filing history →

Source: SEC EDGAR

accession 0001185185-23-001282

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