Green Giant Inc.: Nasdaq/NYSE listing notice — Green Giant receives Nasdaq delisting notice over dilution concerns; hearing set for April 4

Green Giant Inc.

Received additional deficiency notice from Nasdaq on March 28, 2024, citing substantial dilution from future priced securities and violation of Rule 5635(d).
Violation relates to a December 12, 2023 securities purchase agreement requiring shareholder approval for 20% issuance below minimum price.
Hearing before Nasdaq Hearings Panel scheduled for April 4, 2024; no immediate impact on listing.
If Panel does not grant compliance request, common stock will be delisted, adversely affecting liquidity.

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

Green Giant Inc. received a nasdaq delisting notice notice regarding other (rules 5101, 5635(d)).

Exchange: nasdaq
Notice: delisting notice
Rules: 5101, 5635(d)

Exact text from the filing

March 28, 2024, Green Giant Inc. (the “Company”) received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Staff (the “Staff”) notifying the Company of an additional deficiency notice of delisting under Nasdaq Listing Rule 5101. Nasdaq based its determination upon concerns raised by the Company’s issuance of future priced securities resulting in substantial dilution for its stockholders, and the Company’s violation of Nasdaq Listing Rule 5635(d), which requires shareholder approval prior to a 20% issuance at a price that is less than the minimum price, pursuant to a

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Source: SEC EDGAR

accession 0001213900-24-030879

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