Presto Automation Inc.: Nasdaq/NYSE listing notice — Presto Automation receives Nasdaq delisting notice for bid price below $1.00

Presto Automation Inc.

Nasdaq notice on Dec 28, 2023 for failing minimum $1.00 bid price for 30 consecutive business days.
180-day compliance period to June 25, 2024 to regain compliance.
If not cured, may be eligible for additional 180 days and might reverse stock split.
Common stock continues trading on Nasdaq Global Market during cure period.
Company plans to monitor bid price and evaluate options; no assurance of compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

Presto Automation Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

December 28, 2023, Presto Automation Inc. (the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”), because the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), was below $1.00 per share for 30 consecutive business days. The Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at

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Source: SEC EDGAR

accession 0001558370-24-000064

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