CEMTREX INC (CETX): Nasdaq/NYSE listing notice — Cemtrex granted Nasdaq exception until Jan 19, 2024 to regain $1 bid price compliance via reverse split

CEMTREX INC

Received temporary exception from Nasdaq Hearings Panel to cure Bid Price Rule non-compliance.
Must obtain board approval for reverse stock split by Sept 29, 2023, shareholder approval by Dec 26, 2023.
Reverse split must be effected by Jan 5, 2024; demonstrate $1 closing bid for 10 consecutive days by Jan 19, 2024.
Failure to meet any milestone will result in immediate delisting of CETX and CETXP securities.
Company represented it intends to effect reverse split at ratio between 1:2 and 1:3 to regain compliance.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

CEMTREX INC received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5555(a)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5555(a)(1)

Exact text from the filing

January 5, 2024, and described the actions it intends to take to be able to meet that timeline. Accordingly, the Company has been granted an exception until January 19, 2024, to effect the reverse stock split and thereafter regain compliance with the Bid Price Rule.

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Source: SEC EDGAR

accession 0001493152-23-032363

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