RenX Enterprises Corp. (RENX): Nasdaq/NYSE listing notice — Safe and Green Development receives Nasdaq equity deficiency notice; stockholders' equity $1.89M vs $2.5M minimum

RenX Enterprises Corp.

Stockholders' equity of $1,887,777 as of Dec 31, 2023 below Nasdaq's $2,500,000 minimum requirement.
Company has 45 days (until May 31, 2024) to submit a compliance plan to Nasdaq.
If plan accepted, Nasdaq may grant up to 180 days from April 16, 2024 to regain compliance.
Company does not meet alternative quantitative standards ($35M market value or $500K net income).
Failure to gain compliance may lead to delisting; company intends to submit plan by May 31.

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

RenX Enterprises Corp. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

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

Exact text from the filing

April 16, 2024, Safe and Green Development Corporation (the “Company”) received a letter (the “Notification Letter”) from The Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Rule”) because the stockholders’ equity of the Company of $1,887,777 as of December 31, 2023, as reported in the Company’s Annual Report on Form 10-K filed with the SEC on April 1, 2024, was below the minimum requirement of $2,500,000. As of the date of this Current Report on Form 8-K, the Company does not have a market value of listed securities of $3

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RenX Enterprises Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-034544

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