Nasdaq to delist Netcapital as stock closed at $0.10 or less for 10 days; reverse split approved

Netcapital Inc.

On July 23, 2024, Nasdaq notified Netcapital of delisting due to closing bid price ≤ $0.10 for ten consecutive trading days.
Company intends to appeal the delisting to a Nasdaq Hearings Panel, which will stay further action pending the hearing.
Shareholders approved a reverse stock split (1:2 to 1:100), with board to set exact ratio and implement before July 24, 2025.
Company had been non-compliant with Nasdaq minimum bid price rule since Sept 2023, with compliance deadline of Aug 26, 2024.

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