Toughbuilt Industries, Inc: Nasdaq/NYSE listing notice — ToughBuilt receives Nasdaq bid price deficiency notice; 180 days to cure until Jan 3, 2024

Toughbuilt Industries, Inc

Notice dated July 7, 2023: common stock closing bid below $1.00 for 30 consecutive trading days (May 23 – Jul 6, 2023).
Must regain compliance by Jan 3, 2024; requires closing bid ≥ $1.00 for at least 10 consecutive trading days.
If not cured, may qualify for an additional 180-day extension subject to meeting other initial listing standards.
Stock (TBLT) continues trading on Nasdaq Capital Market during the compliance period.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

Toughbuilt Industries, Inc received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

July 7, 2023, ToughBuilt Industries, Inc. (the “ Company ”) received written notice from The Nasdaq Stock Market LLC (“ Nasdaq ”) stating that the Company failed to maintain a minimum bid price of at least $1.00 per share for the prior 30 consecutive trading day period from May 23, 2023 to July 6, 2023, based upon the closing bid price for its common stock as required by Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until January 3, 2024, to regain compliance with the minimum bid requirement under Nasdaq Listing Rule 5550(a

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Source: SEC EDGAR

accession 0001575872-23-001105

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