Orbital Infrastructure Group, Inc.: Nasdaq/NYSE listing notice — Orbital Infrastructure Group receives Nasdaq delisting notice for failing to meet $35M market value rule

Orbital Infrastructure Group, Inc.

Nasdaq notified OIG on Dec 28, 2022 that market value of listed securities was below $35M for 30 consecutive days.
Company failed to regain compliance by the June 26, 2023 deadline.
OIG intends to appeal the delisting determination to a Nasdaq hearings panel, which will stay suspension.
Company plans to evaluate options to regain compliance with the $35M Minimum Bid Requirement.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Orbital Infrastructure Group, Inc. received a nasdaq delisting notice notice regarding market value (rules 5250(c)(1), 5810(c)(3)(C), 5550(b)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5250(c)(1), 5810(c)(3)(C), 5550(b)(2)

Exact text from the filing

.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 28, 2022, Staff notified the Company that the market value of its listed securities had been below the $35,000,000 minimum required for continued listing as set forth in Listing Rule 5550(b)(2) (the “Rule”) for the previous 30 consecutive trading days. Therefore, in accordance with Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until June 26, 2023, to regain compliance with the Rule. The Company has not regained compliance with the Rule. Accordingly

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Source: SEC EDGAR

accession 0001437749-23-019022

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