---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-005931"
form_type: "8-K"
ticker: null
cik: "0001829966"
company_name: "EBET, Inc."
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:27:46.437643+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# EBET faces Nasdaq delisting for equity deficiency; preferred conversion dilutes shares

## Summary
- Received Nasdaq letter on Aug 15, 2023 for non-compliance with $2.5M minimum stockholders' equity rule (Listing Rule 5550(b)(1)).
- Hearing before Nasdaq Hearings Panel scheduled for Oct 12, 2023 to address bid price and equity deficiencies.
- Series A Preferred conversion price reduced from $0.71 to $0.086 on July 31, 2023; 34,627 of 37,700 shares converted.
- Conversion resulted in issuance of ~379M common shares; total common shares outstanding now ~404M.

## SEC filing metadata
- accession: 0001683168-23-005931
- form_type: 8-K
- cik: 0001829966
- company_name: EBET, Inc.
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/0001683168-23-005931-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/ebet_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-005931
- JSON: https://secwatch.observer/filing/0001683168-23-005931.json
- Plain text: https://secwatch.observer/filing/0001683168-23-005931.txt

## Key facts
- Listing & Compliance Notices
  EBET, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)(iii)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)(iii)
  source text: July 31, 2023, the Company was notified by the Staff that it had determined that the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days from July 17, 2023 through July 28, 2023. Accordingly, since the Company was subject to the provisions set forth under Listing Rule 5810(c)(3)(A)(iii), the Staff had determined to delist the Company’s securities from The Nasdaq Capital Market. The Company submitted a hearing request to Nasdaq’s Hearings Department, which stayed the suspension of the Company’s common stock pending the panel’s decision. The Company’s
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/0001683168-23-005931-index.htm
- Listing & Compliance Notices
  EBET, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: August 15, 2023, the Company received a letter from the Staff, which notified the Company that it does not presently comply with Nasdaq’s Listing Rule 5550(b)(1) (the “Listing Rule”), which requires that the Company maintain a minimum of $2.5 million in stockholders’ equity, and that the Company also does not meet the alternatives of market value of listed securities or net income from continuing operations set forth in the Listing Rule. The letter stated that, in addition to Bid Price Rule deficiency, the Nasdaq Hearings Panel will also consider the non-compliance with the Listing Rule in ren
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/0001683168-23-005931-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.