ESPORTS ENTERTAINMENT GROUP, INC. (GMBL): Nasdaq/NYSE listing notice — Nasdaq notifies Esports Entertainment of delisting due to bid price below $0.10; company to appeal

ESPORTS ENTERTAINMENT GROUP, INC.

Nasdaq staff determined common stock closed at or below $0.10 for 10 consecutive days; trading suspension set for Oct 31 unless hearing requested.
Company intends to request hearing before Nasdaq Hearings Panel; request automatically stays suspension pending hearing and any extension.
Prior bid price deficiency grace period (below $1.00) terminated by the new notice; company also under Panel Monitor through June 13, 2024.
Since Sept 2023, sold 8,440,375 shares under ATM for gross proceeds of $679,016; net proceeds split 50% to company and 50% to preferred stock holders for redemptions.
As of Oct 20, 67,329,316 common shares outstanding; $322,120 disbursed from escrow to redeem 312 shares of Series D Convertible Preferred Stock.

Key facts

Extracted from this filing and checked against the source text.

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

ESPORTS ENTERTAINMENT GROUP, INC. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii), 5550(a)(2)).

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

Exact text from the filing

October 20, 2023, Esports Entertainment Group, Inc. (the “Company”) received a deficiency notification letter from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”) because the bid price for the Company’s common stock had closed at or below $0.10 per share for ten consecutive trading days. The notification letter from Nasdaq advised the Company that the trading of its securities will be suspended at the opening of business on Octobe

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ESPORTS ENTERTAINMENT GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-037945

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