REPUBLIC FIRST BANCORP INC: Nasdaq/NYSE listing notice — Republic First Bancorp delisted from Nasdaq; common stock moves to OTC Pink on Aug 23

REPUBLIC FIRST BANCORP INC

Nasdaq notified Company on Aug 21, 2023; trading suspended Aug 23 due to failure to file 2022 Form 10-K by Aug 15.
Common stock (FRBK) expected to begin trading on OTC Pink marketplace on August 23, 2023.
Filing delay attributed to former executive team's inadequate internal controls and a June 2022 systems conversion.
New management and external advisors are conducting an extensive audit; Company may apply for re-listing after filing all delayed reports.
Board and new executive team focusing on core banking in Metropolitan Philadelphia and Southern New Jersey markets.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

REPUBLIC FIRST BANCORP INC received a nasdaq noncompliance notice notice regarding late filing.

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: late filing

Exact text from the filing

August 15, 2023, the Panel has determined to delist the Company’s common stock from trading on The Nasdaq Stock Market LLC (“Nasdaq”) and will suspend trading in the Company’s common stock effective at the open of trading on August 23, 2023. Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission to effect the delisting following the lapse of certain waiting periods set forth in the Nasdaq Listing Rules. The Company anticipates that effective August 23, 2023, the Company’s common stock will commence trading on the OTC Pink marketplace under the symbol “FRBK.” Quotes and rela

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Source: SEC EDGAR

accession 0001437749-23-024371

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