Lexaria Bioscience Corp. (LEXX): Nasdaq/NYSE listing notice — Lexaria receives Nasdaq bid price deficiency notice; 180 days to regain compliance

Lexaria Bioscience Corp.

Nasdaq letter dated June 22, 2023 cites LEXX not meeting $1.00 bid price requirement.
Company has until December 19, 2023 to close at or above $1.00 for 10 consecutive days.
If not compliant, may qualify for additional 180-day period; could consider reverse stock split.
No immediate effect on listing; common stock continues trading on Nasdaq under LEXX.
Company intends to monitor bid price and evaluate options but no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

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

Lexaria Bioscience Corp. 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 22, 2023, Lexaria Bioscience Corp. (the “Company”) received a letter (the “Bid Price Deficiency Notice”) from the listing qualifications department staff of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). The Bid Price Deficiency Notice has no immediate effect on the listing of the Company’s common stock, and the Company’s common stock continues to trade on the Nasdaq Capital Market un

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Lexaria Bioscience Corp. filing history →

Source: SEC EDGAR

accession 0001640334-23-001126

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