KIDPIK CORP.: Nasdaq/NYSE listing notice — Kidpik receives Nasdaq delisting notice for equity shortfall; enters $346K related-party note

KIDPIK CORP.

Nasdaq notified Kidpik on Apr 16, 2024 that its stockholders' equity of $1,036,834 is below the $2.5M minimum; must submit compliance plan by May 31, 2024.
Kidpik entered a $346,000 promissory note with Nina Footwear (controlled by CEO Ezra Dabah) on Apr 18, 2024; weekly payments of $14,605 due until merger close or Oct 31, 2024 maturity.
Note expected to be forgiven upon closing of the pending merger with Nina Footwear, anticipated in Q3 2024; merger is expected to cure the equity deficiency.
Ezra Dabah and his family will control ~76.8% of the combined company's voting shares after the merger.

item 1.01 item 2.03 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

KIDPIK CORP. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

April 16, 2024, the Company received a letter from The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that its stockholders’ equity as reported in its Annual Report on Form 10-K for the period ending December 30, 2023 (the “ Form 10-K ”), did not meet the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000. In the Company’s Form 10-K, the Company reported stockholders’ equity of $1,036,834, which is be

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Source: SEC EDGAR

accession 0001493152-24-015340

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