Edible Garden AG Inc (EDBL): Nasdaq/NYSE listing notice — Edible Garden receives Nasdaq deficiency notice for bid price below $1

Edible Garden AG Inc

Nasdaq letter dated Oct. 24, 2023 cites non-compliance with minimum bid price of $1 per share.
Company has 180 days (until April 22, 2024) to regain compliance by closing at $1+ for 10 consecutive business days.
If not compliant by April 22, 2024, may qualify for a second 180-day period if other listing standards are met.
Company plans to seek stockholder approval for a reverse stock split to boost per-share price.
Notice has no immediate effect on listing; shares continue to trade on Nasdaq under EDBL.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

Edible Garden AG Inc received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

October 24, 2023, Edible Garden AG Incorporated (the “Company”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days, the Company no longer meets Nasdaq Listing Rule 5550(a)(2), which requires listed companies to maintain a minimum bid price of at least $1 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides a compliance period of 180 calendar days, or until April 22, 2024, in which to regain compliance with the minimum bid pric

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Edible Garden AG Inc filing history →

Source: SEC EDGAR

accession 0001477932-23-007937

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