Orbital Infrastructure Group, Inc.: Nasdaq/NYSE listing notice — Orbital Infrastructure Group receives Nasdaq panel approval for continued listing with bid price condition

Orbital Infrastructure Group, Inc.

On March 22, 2023, Nasdaq Hearings Panel granted Orbital Infrastructure Group's request for continued listing.
Company must demonstrate compliance with $1.00 bid price requirement by May 5, 2023, with 10 consecutive trading days of closing price >= $1.
Orbital also faces a Market Value of Listed Securities (MVLS) deficiency, with a compliance deadline of June 26, 2023.
The hearing was held on March 9, 2023, after a delisting determination on January 23, 2023.

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 extension granted notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: extension granted
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

March 22, 2023, the Company received a written decision from the Panel granting its request for continued listing on Nasdaq, subject to the condition that, on May 5, 2023, the Company will have demonstrated compliance with the Bid Price Requirement, as set forth in Listing Rule 5550(a)(2), by evidencing a closing price of $1.00 or more per share for a minimum of 10 consecutive trading days. The Panel noted that the Company should be afforded time to implement its compliance plan in light of the fact that the Company has already initiated the process to complete the reverse split and given the

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.4

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

the fact that the Company has already initiated the process to complete the reverse split and given the short duration of the exception period requested. Further, the Company is currently deficient with the Market Value of Listed Securities (“MVLS”) requirement, as set forth in Nasdaq Listing Rule 5550(b)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been afforded 180 calendar days, or until June 26, 2023, to regain compliance. The Company is working to regain compliance with the MVLS requirement as soon as possible. SIGNATURES Pursuant to the requirements of the S

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Source: SEC EDGAR

accession 0001437749-23-007943

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