ShiftPixy, Inc.: Nasdaq/NYSE listing notice — ShiftPixy receives Nasdaq delisting notice for failure to maintain $35M MVLS

ShiftPixy, Inc.

Nasdaq letter dated June 5, 2023, cites non-compliance with Listing Rule 5550(b)(2) requiring $35M MVLS.
Company also fails to meet alternative requirements under Rules 5550(b)(1) or 5550(b)(3).
Compliance period of 180 calendar days granted; no immediate delisting effect.
Compliance achievable if MVLS closes at $35M+ for ten consecutive business days.
Failure to regain compliance will trigger delisting notice, subject to Nasdaq Hearings Panel appeal.

Key facts

Extracted from this filing and checked against the source text.

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

ShiftPixy, Inc. received a nasdaq noncompliance notice notice regarding market value (rules 5550(b)(1), 5550(b)(2), 5550(b)(3)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: market value
Rules: 5550(b)(1), 5550(b)(2), 5550(b)(3)

Exact text from the filing

June 5, 2023, ShiftPixy, Inc. (the “Company”) received a letter (the “Nasdaq Letter”) from the staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), which notifies the Company that it does not presently comply with Nasdaq’s Listing Rule 5550(b)(2), which requires that the Company maintain a Market Value of Listed Securities (“MVLS”) of $35 million, and that the Company does not otherwise satisfy the requirements of Listing Rules 5550(b)(1) or 5550(b)(3). The Staff calculates MVLS based upon the most recent Total Shares Outstanding (TSO), multip

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Source: SEC EDGAR

accession 0001477932-23-004241

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