YUNHONG GREEN CTI LTD. (YHGJ): Nasdaq/NYSE listing notice — Nasdaq determines Yunhong CTI failed to meet bid price rule; plans to appeal to avoid delisting

YUNHONG GREEN CTI LTD.

Received Nasdaq determination on Nov 23, 2022, that CTI failed to regain compliance with $1 bid price rule by Nov 22 deadline.
Company not eligible for second 180-day period because it does not meet $5M stockholders' equity initial listing requirement.
Trading to be suspended on Dec 2, 2022, unless appeal requested by Nov 30; board directed management to appeal.
Company considering a reverse stock split to regain compliance, but no assurance of success.

Key facts

Extracted from this filing and checked against the source text.

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

YUNHONG GREEN CTI LTD. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

November 23, 2022, the Company received a staff determination letter from Nasdaq stating that the Company had not regained compliance with the Minimum Bid Price Rule by the Compliance Date, and that, because the Company does not comply with the $5,000,000 stockholders equity initial listing requirement for The Nasdaq Capital Market, it is not eligible for a second 180 day compliance period (the “Noncompliance Notice”). The Noncompliance Notice also stated that, unless the Company requests a timely appeal of this determination, the Company’s securities will be scheduled for delisting and will s

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Source: SEC EDGAR

accession 0001493152-22-034019

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