CEMTREX INC (CETX): Nasdaq/NYSE listing notice — Nasdaq panel amends CETXP listing exception; compliance deadlines set for Jan 8 and Jan 22

CEMTREX INC

Series 1 Preferred Stock (CETXP) must close at $1+ minimum bid for 10 consecutive sessions by Jan 8, 2024.
Full compliance with Listing Rule 5555(a)(1) required by Jan 22, 2024; failure leads to immediate delisting.
Company considering share repurchase under approved program to meet bid price deadline.
Special meeting of Series 1 Preferred shareholders failed due to lack of quorum; resolution did not pass.
Jan 22, 2024 represents full extent of Panel's discretion for continued listing while non-compliant.

item 5.07 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 0.95

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

Exchange: nasdaq
Notice: hearing update
Deficiency: minimum bid price
Rules: 5555(a)(1)

Exact text from the filing

January 3, 2024, the Company received a letter from The Nasdaq Stock Market LLC’s Hearings Panel notifying the Company that it has made the following amendments to the exception granted on September 8, 2023. ● On January 8, 2024, the Company’s Series 1 Preferred Stock shall close at a minimum bid price of at least $1 per share and maintain such closing bid price for a minimum of ten consecutive business days; ● 2. On January 22, 2024, the Company shall have demonstrated compliance with Listing Rule 5555(a)(1), by evidencing a closing bid price of $1 or more per share for a minimum of ten c

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Source: SEC EDGAR

accession 0001493152-24-000316

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