BEASLEY BROADCAST GROUP INC (BBGI): Nasdaq/NYSE listing notice — Beasley Broadcast transfers to Nasdaq Capital Market due to bid price deficiency; faces delisting risk

BEASLEY BROADCAST GROUP INC

Transfer to Nasdaq Capital Market effective April 18, 2024; stock continues trading under BBGI.
Company failed to meet $1.00 minimum bid price for 30 consecutive days on Nasdaq Global Market.
Granted additional 180 days until October 7, 2024 to regain compliance with $1.00 bid price for 10 consecutive days.
Company may seek stockholder approval for a reverse stock split to cure the deficiency.
No assurance of regaining compliance; failure could lead to delisting and appeal process.

Key facts

Extracted from this filing and checked against the source text.

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

BEASLEY BROADCAST GROUP INC received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

October 13, 2023, the Company received a written notice (the “Notice”) from Nasdaq’s Listing Qualifications Department notifying the Company that, for the last 30 consecutive business days, the bid price for the Common Stock had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days (the “Initial Compliance Period”) to regain compliance with the Minimum Bid Price Re

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Source: SEC EDGAR

accession 0001193125-24-103017

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