MGO Global Inc.: Nasdaq/NYSE listing notice — MGO Global receives Nasdaq delisting notice for bid price below $1.00

MGO Global Inc.

Received Nasdaq deficiency letter on Oct 19, 2023, for bid price below $1.00 for 30 consecutive trading days.
Must regain compliance by April 16, 2024 (180-day cure period); may qualify for second 180-day period.
If not compliant, stock may be delisted; company can appeal to Nasdaq hearings panel.
No immediate effect on listing; MGOL continues trading on Nasdaq Capital Market.
Company evaluating options to regain compliance; no assurance of success.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

MGO Global 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 18, 2023, the common stock of the Company had not maintained a minimum closing bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until April 16, 2024 (the “Compliance Period”), to regain compliance with the Bid Price Rule. If the Company does not regain compliance with the Bid Price Rule by April 16, 2024, the Company may be eligible for an additional 180-day period to

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Source: SEC EDGAR

accession 0001654954-23-013247

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