Hempacco Co., Inc.: Nasdaq/NYSE listing notice — Hempacco receives Nasdaq notice for non-compliance with $1.00 minimum bid price

Hempacco Co., Inc.

Company received Nasdaq notice on April 6, 2023, due to closing bid price below $1.00 for 30 consecutive business days.
Has until October 3, 2023, to regain compliance; bid price must close at or above $1.00 for ten consecutive days.
If not cured, may be eligible for additional 180-day period if it meets other listing requirements and provides reverse stock split notice.
Delisting could reduce liquidity, limit equity financing, and impair employee incentives.
Company is considering options to regain compliance; no immediate delisting.

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 0.95

Hempacco Co., 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

April 6, 2023, Hempacco Co., Inc. (the “ Company ”) received a written notice (the “ Notice ”) from the Listing Qualifications Department of The Nasdaq Stock Market (“ Nasdaq ”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “ Bid Price Requirement ”). The Notice does not result in the immediate delisting of the Company’s common stock from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price o

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Source: SEC EDGAR

accession 0001477932-23-002412

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