Forward Industries, Inc. (FWDI): Nasdaq/NYSE listing notice — Forward Industries receives Nasdaq bid-price deficiency notice; 180-day cure period

Forward Industries, Inc.

Nasdaq letter on July 31, 2023: common stock failed to maintain $1.00 minimum bid for 30 consecutive days.
Company has 180-day grace period through January 29, 2024 to regain compliance.
To cure, closing bid must be $1.00+ for 10 consecutive days; potential additional 180-day extension available.
No immediate impact on listing; company assessing options to maintain Nasdaq listing.

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 0.9

Forward Industries, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

July 31, 2023, Forward Industries, Inc. (the “Company”) received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(a)(2) (the “Rule”) by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days. According to the letter, the Company has a 180-calendar day grace period to regain compliance with the Rule (the “Grace Period”), subject to a potential 180 calendar day extension, as described below. To regain compliance, the Company’s common stock must have a mi

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Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-005294

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