SALEM MEDIA GROUP, INC. /DE/ (SALM): Nasdaq/NYSE listing notice — Salem Media receives Nasdaq delisting notice for bid price below $1

SALEM MEDIA GROUP, INC. /DE/

Received Nasdaq letter on June 23, 2023 for failing $1 minimum bid price for 32 consecutive business days.
Has 180-day compliance period ending December 20, 2023 to regain compliance.
To regain compliance, stock must close at $1.00 or higher for at least 10 consecutive business days.
Company may consider available options to address the bid price deficiency.

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

SALEM MEDIA GROUP, INC. /DE/ received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

June 23, 2023, Salem Media Group, Inc. (the “ Company ”) received a letter (the “ Letter ”) from The Nasdaq Stock Market (“ Nasdaq ”) informing the Company that its common stock, par value $0.01 per share (the “ Common Stock ”), failed to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5450(a)(1) based upon the closing bid price of the Common Stock for the 32 consecutive business days prior to the date of the Letter. The Letter also indicated that the Company has a compliance period of 180 calendar days in which to rega

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Source: SEC EDGAR

accession 0001193125-23-173888

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