Tattooed Chef, Inc.: Nasdaq/NYSE listing notice — Tattooed Chef files for Chapter 11 bankruptcy, seeks sale of assets under Section 363

Tattooed Chef, Inc.

Received Nasdaq delisting notice on June 28 for bid price below $1.00; 180-day cure period to Dec 26, 2023.
Intends to file voluntary Chapter 11 petition in early July 2023 in Central District of California.
Pursuing expedited sale of substantially all assets under Section 363; SC&H Capital retained as investment bank.
Finalizing debtor-in-possession financing from existing secured lender; CEO provided $12M in unsecured loans.
Appointed Edward Bidanset as Chief Restructuring Officer; plans layoffs in California and New Mexico.

Key facts

Extracted from this filing and checked against the source text.

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

Tattooed Chef, 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

June 28, 2023, Tattooed Chef, Inc. (the “Company”) received notice from The Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that the closing bid price of its common stock (the “Common Stock”) for the last 30 consecutive business days prior to the date of the notice failed to comply with the $1.00 per share minimum bid price required for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the Common Stock listing or trading on Nasdaq. Nasdaq indicated that the Company will be provided with a compliance period of 180 calendar days. Th

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Source: SEC EDGAR

accession 0001628280-23-024033

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