Orbital Infrastructure Group, Inc.: Nasdaq/NYSE listing notice — Orbital Infrastructure Group receives Nasdaq delisting notice for MVLS non-compliance

Orbital Infrastructure Group, Inc.

Nasdaq notified OIG on Dec 28, 2022 that market value of listed securities fell below $35M for 30 consecutive business days.
Company has 180 calendar days, until June 26, 2023, to regain compliance by closing MVLS at $35M+ for 10 consecutive business days.
Failure to regain compliance may lead to delisting; OIG can appeal to a Nasdaq hearings panel.
OIG also faces a separate Nasdaq minimum bid price requirement deficiency previously disclosed.

Key facts

Extracted from this filing and checked against the source text.

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

Orbital Infrastructure Group, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

d a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the minimum market value of listed securities (“MVLS”) requirement for continued listing set forth in Nasdaq Listing Rule 5550(b)(2). Nasdaq Listing Rule 5550(b)(2) requires listed securities to maintain a minimum MVLS of $35 million, and Listing Rule 5810(c)(3)(C) provides that a failure to meet the minimum MVLS requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice has

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Source: SEC EDGAR

accession 0001437749-23-000337

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