HALLMARK FINANCIAL SERVICES INC: Nasdaq/NYSE listing notice — Hallmark Financial Services receives Nasdaq delisting notice for low equity and MVPHS

HALLMARK FINANCIAL SERVICES INC

Notified Nov 16, 2023: stockholders' equity below $10M minimum for Nasdaq Global Market.
Must submit compliance plan by Jan 2, 2024; if accepted, extension up to 180 days.
Also previously flagged for MVPHS below $5M; must regain compliance by March 26, 2024.
Company says deficiency not immediately impacting listing or operations, believes it will be corrected.
Failure to regain compliance could lead to delisting from Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

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

HALLMARK FINANCIAL SERVICES INC received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5450(b)(1)(A)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5450(b)(1)(A)

Exact text from the filing

November 16, 2023, Hallmark Financial Services, Inc. (the “Company”) was notified by Nasdaq Regulation that the Company no longer meets Rule 5450(b)(1)(A), which requires companies listed on the Nasdaq Global Market to maintain a minimum of $10,000,000 in stockholders’ equity for continued listing. Under Nasdaq Rules, the Company has 45 calendar days, or until January 2, 2024, to submit a plan to regain compliance, which if accepted by Nasdaq can provide the Company an extension of up to 180 days from the date of notice to cure such listing deficiency. The Company had previously received not

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Source: SEC EDGAR

accession 0001558370-23-019281

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