Troika Media Group, Inc.: Nasdaq/NYSE listing notice — Troika Media receives Nasdaq delisting notice; plans reverse stock split appeal

Troika Media Group, Inc.

Received Staff Delisting Determination on May 16, 2023 for failing minimum $1.00 bid price for 30 consecutive days.
Will request a Nasdaq Hearing within 30-45 days; hearing request stays delisting pending Panel decision.
Intends to conduct a reverse stock split as soon as practicable; Series E Preferred restrictions ended March 31, 2023.
Working with Jefferies to optimize balance sheet, reduce debt service, and evaluate strategic transactions.
No assurance Panel will grant continued listing or that reverse split will close.

item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Troika Media Group, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

May 16, 2023, Troika Media Group, Inc. (the “Company”) received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”). The Company was notified that Nasdaq has determined to delist the Company’s securities from the Nasdaq Capital Market for failure to maintain a minimum bid price of $1.00 per share for thirty (30) consecutive business days in accordance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”). The Company intends to appeal the Staff’s determination by requesting a hearing (the

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Source: SEC EDGAR

accession 0001628280-23-018843

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