ShiftPixy, Inc.: Nasdaq/NYSE listing notice — ShiftPixy receives Nasdaq delisting notice for MVLS below $35M threshold

ShiftPixy, Inc.

Nasdaq notified ShiftPixy on Feb 26, 2024 that its MVLS was below $35M requirement (Listing Rule 5550(b)(2)).
Company also fails to meet alternative listing standards under Rules 5550(b)(1) or (b)(3).
ShiftPixy has 180 calendar days to regain compliance by closing MVLS at $35M for 10 consecutive business days.
If not compliant after 180 days, staff will issue delisting determination, appealable to Nasdaq Hearings Panel.
No immediate effect on listing; stock remains on Nasdaq Capital Market during compliance period.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

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

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

Exact text from the filing

February 26, 2024, 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), m

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Source: SEC EDGAR

accession 0001477932-24-000894

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