Netcapital Inc. (NCPL): Nasdaq/NYSE listing notice — Netcapital gets 180-day Nasdaq bid-price extension to Aug 26, 2024

Netcapital Inc.

Received extension after failing to meet $1 minimum bid price by Feb 28, 2024.
Must close at or above $1 for 10 consecutive business days by Aug 26, 2024.
Failure to comply by Aug 26 will result in delisting; company may appeal.
Company may consider a reverse stock split to cure the deficiency.
Common stock continues trading on Nasdaq under NCPL during extension.

Key facts

Extracted from this filing and checked against the source text.

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

Netcapital Inc. received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

February 29, 2024, the Company received a letter (the “Extension Notice”) from Nasdaq notifying the Company that its request for an extension to regain compliance with the minimum bid price requirement has been granted, and the Company has an additional 180 calendar days, or until August 26, 2024, to regain compliance with the minimum bid price requirement. Nasdaq’s determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of

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Source: SEC EDGAR

accession 0001493152-24-008365

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