Lexaria Bioscience Corp. (LEXX): Nasdaq/NYSE listing notice — Lexaria receives Nasdaq bid price deficiency notice; 180-day cure until April 15, 2024

Lexaria Bioscience Corp.

Received Nasdaq notice on Oct 17, 2023 for failing to maintain $1.00 minimum bid price for continued listing on Nasdaq Capital Market.
Has 180 calendar days (until April 15, 2024) to regain compliance by closing at $1.00+ for 10 consecutive business days.
Shareholders approved a reverse stock split on Oct 10, 2023 as a potential cure; company states split remains last option.
If not cured by April 15, may qualify for an additional 180-day compliance period if other listing standards are met.
Stock continues trading under symbol LEXX; no immediate delisting effect, 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

October 17, 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

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Lexaria Bioscience Corp. filing history →

Source: SEC EDGAR

accession 0001640334-23-001869

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