Phunware, Inc. (PHUN): Nasdaq/NYSE listing notice — Phunware granted 180-day Nasdaq extension until April 8, 2024 to regain $1.00 bid price compliance

Phunware, Inc.

Received Nasdaq bid price non-compliance notice on April 13, 2023; originally given until Oct 10, 2023 to cure.
Nasdaq granted additional 180-day extension to April 8, 2024 to meet $1.00 minimum bid price for 10 consecutive days.
Company may effect reverse stock split to regain compliance, subject to board and stockholder approval.
Failure to regain compliance by April 8, 2024 could lead to delisting and trigger default on 2022 Promissory Note.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

Phunware, 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

October 12, 2023, the Company received a letter from Nasdaq advising that the Company had been granted a 180-day extension to April 8, 2024, to regain compliance with the Bid Price Requirement, in accordance with Nasdaq Listing Rule 5810(c)(3)(A). To regain compliance, the bid price of the Company’s common stock must close at $1.00 per share or more for a minimum of ten consecutive business days. We intend to monitor the closing bid price of our common stock and may, if appropriate, take all measures necessary to regain compliance with the Bid Price Requirement within the 180 calendar day comp

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Source: SEC EDGAR

accession 0001628280-23-034524

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