DAVIDsTEA Inc.: Nasdaq/NYSE listing notice — DAVIDsTEA receives Nasdaq notice of non-compliance with $1 bid price rule

DAVIDsTEA Inc.

Received letter on Oct 28, 2022 for 30 consecutive business days below $1.00 per share.
Given 180 calendar days, until April 26, 2023, to regain compliance.
To comply, closing bid must be at least $1.00 for 10 consecutive business days.
If not cured, may qualify for second 180-day grace period if other listing standards met.
No immediate impact on common stock listing or trading on Nasdaq Capital Market.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

DAVIDsTEA Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

October 28, 2022, DAVIDsTEA Inc., a corporation incorporated under the Canada Business Corporations Act (the “Company”), received a letter from The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that for the past 30 consecutive business days, the closing bid price per share of its common stock was below the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). As a result, the Company was notified by Nasdaq that it is not in compliance with the Bid Price Rule. Nasdaq has provided

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Source: SEC EDGAR

accession 0001477932-22-008098

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