secwatch.observer — SEC 8-K summary
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Issuer:     ENGLOBAL CORP (—)
CIK:        0000933738
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001654954-23-015013
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ENGlobal receives Nasdaq deficiency notice for equity shortfall, completes 1-for-8 reverse stock split
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- Nasdaq notified ENGlobal on Nov 27, 2023, of non-compliance with $2.5M minimum stockholders' equity; reported equity $2.1M.
- Company must submit a compliance plan by Jan 8, 2024; if accepted, may get up to 180 days to regain compliance.
- 1-for-8 reverse stock split effective Nov 30, 2023; shares expected outstanding ~5.125M post-split.
- Reverse split intended to boost per-share price to meet Nasdaq minimum bid price; CUSIP changes to 293306205.
- Stock continues trading on Nasdaq under symbol ENG; management evaluating options to restore equity compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933738/000165495423015013/0001654954-23-015013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933738/000165495423015013/eng_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-015013

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