FlexShopper, Inc.: Nasdaq/NYSE listing notice — FlexShopper receives Nasdaq notice for non-compliance with minimum bid price of $1 per share

FlexShopper, Inc.

Notice received April 21, 2023; closing bid price below $1.00 for 30 consecutive business days.
180-day cure period until October 18, 2023 to regain compliance with Minimum Bid Price Requirement.
To regain compliance, closing bid must be at least $1.00 for ten consecutive business days.
Stock continues trading on Nasdaq Capital Market during the compliance period.
If not cured by Oct 18, 2023, Company may qualify for a second 180-day grace period subject to conditions.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

FlexShopper, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

April 21, 2023 Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 21, 2023, the Company received a letter (the “Notice”) from The Nasdaq Stock Market notifying the Company that, because the closing bid price for its common stock has been below $1.00 per share for 30 consecutive business days, it no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum

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Source: SEC EDGAR

accession 0001213900-23-032055

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