iPower Inc. (IPW): Nasdaq/NYSE listing notice — iPower receives Nasdaq extension to Nov 2023 for bid price compliance, shareholders approved reverse stock split

iPower Inc.

Nasdaq granted iPower additional 180-day grace period through November 3, 2023 to regain $1.00 minimum bid price compliance.
Initial compliance period ended May 8, 2023; extension follows deficiency notice from November 2022.
Shareholders approved reverse stock split (1:2 to 1:4) at April 26, 2023 annual meeting as potential remedy.
If compliance not regained by November 3, delisting is possible; company may appeal to a Nasdaq Hearings Panel.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

iPower Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(3)

Exact text from the filing

November 9, 2022, iPower Inc., a Nevada corporation (the “Company”), received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the preceding 30 consecutive business days, the closing bid price for the Company’s common stock was trading below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(3) (the “Bid Price Requirement”). The notification received from Nasdaq had no immediate effect on the Company’s Nasdaq listing

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iPower Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-003080

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