AKUMIN INC.: Nasdaq/NYSE listing notice — Akumin receives Nasdaq delisting notice for failing minimum equity standard

AKUMIN INC.

Nasdaq notified Akumin on Aug 15, 2023 that it fails the $2.5M stockholders' equity standard or alternatives.
Company must submit a compliance plan by Sept 29, 2023; if accepted, has until Feb 11, 2024 to regain compliance.
Non-compliance has no immediate effect on stock listing; company may appeal if plan is rejected.
No assurance of regaining compliance; risks include potential delisting and loss of Nasdaq listing.

Key facts

Extracted from this filing and checked against the source text.

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

AKUMIN INC. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1), 5550(b)(2), 5550(b)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1), 5550(b)(2), 5550(b)(3)

Exact text from the filing

August 15, 2023, Akumin Inc. (the “Company”) received a written notification (the “Notice”) from the Listing Qualifications Department of the NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with (a) Nasdaq Listing Rule 5550(b)(1) (the “Equity Standard”), pursuant to which Companies listed on the Nasdaq Capital Market (the “Capital Market”) are required to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing on the Capital Market, or (b) either of the alternatives to compliance with the Equity Standard provided under Nasdaq Listing

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Source: SEC EDGAR

accession 0001193125-23-216097

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