Toughbuilt Industries, Inc: Nasdaq/NYSE listing notice — ToughBuilt regains Nasdaq minimum bid price compliance after reverse split

Toughbuilt Industries, Inc

Received Nasdaq notice on Jan 17, 2024 that closing bid price was $1.00+ for 10 consecutive days through Jan 16.
Effected a 1-for-65 reverse stock split on Dec 21, 2023; began trading post-split on Jan 2, 2024.
Previously ineligible for 180-day extension due to insufficient public float of unrestricted shares.
Nasdaq considers the matter closed; compliance with Listing Rule 5550(a)(2) restored.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

Toughbuilt Industries, Inc received a nasdaq compliance regained notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A), 5550(a)(4), 5505(a)(2)).

Exchange: nasdaq
Notice: compliance regained
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A), 5550(a)(4), 5505(a)(2)

Exact text from the filing

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) (the “ Minimum Bid Rule ”). Pursuant to the July 2023 Notice, under Nasdaq Listing Rule 5810(c)(3)(A), the Company initially had 180 calendar days, or until January 3, 2024, to regain compliance with the Minimum Bid Rule (the “ Initial Compliance Period ”). To regain compliance, the closing bid price of the Company’s common stock must have met or exceeded $1.00 per share for a minimum of 10 consecutive trading days prior to the expiration of the Initial Compliance P

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Source: SEC EDGAR

accession 0001575872-24-000061

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