Orbital Infrastructure Group, Inc.: Nasdaq/NYSE listing notice — Orbital Infrastructure faces Nasdaq delisting for late Q2 filing; company not seeking stay

Orbital Infrastructure Group, Inc.

Received Nasdaq delinquency notice on Aug 18, 2023 for failure to file Q2 2023 10-Q (Rule 5250(c)(1)).
Also still non-compliant with market value minimum of $35M (Rule 5550(b)(2)) since Dec 2022.
Company has seven days (until Aug 25) to request a stay but states it does not intend to do so.
Nasdaq Hearings Panel will consider both deficiencies in delisting determination.
Common stock trades under ticker OIG on Nasdaq Capital Market.

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 noncompliance notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

August 18, 2023, Orbital Infrastructure Group, Inc. (the “Company”) was notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), due to its failure to timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2023. As previously disclosed, on December 28, 2022, the Company was notified by Nasdaq that the market value of its listed securities had been below the $35,000,000 minimum required for continued listing as set forth in Nasdaq Listing Rule 5550(b)(2) for the pre

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

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

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

Exact text from the filing

December 28, 2022, the Company was notified by Nasdaq that the market value of its listed securities had been below the $35,000,000 minimum required for continued listing as set forth in Nasdaq Listing Rule 5550(b)(2) for the previous 30 consecutive trading days. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until June 26, 2023, to regain compliance with Nasdaq Listing Rule 5550(b)(2). As of the date of this Current Report on Form 8-K, the Company has not regained compliance with Nasdaq Listing Rule 5550(b)(2). The Company’s failure to tim

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Source: SEC EDGAR

accession 0001437749-23-024489

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