Empery Digital Inc. (EMPD): Nasdaq/NYSE listing notice — Volcon receives Nasdaq deficiency notice for bid price below $1.00

Empery Digital Inc.

Nasdaq notified Volcon on Dec 19, 2023 that bid price closed below $1.00 for 30 consecutive business days.
Company has 180 calendar days, until June 17, 2024, to regain compliance by closing at $1.00 for 10 consecutive days.
If not compliant by June 17, 2024, Volcon may be eligible for an additional 180-day period with conditions including a possible reverse stock split.
Failure to regain compliance could result in delisting from Nasdaq Capital Market; company may appeal.
Volcon intends to monitor bid price and consider reverse stock split to regain compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Empery Digital 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

December 19, 2023, the Company received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that the minimum closing bid price per share for its common stock was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). The letter does not have any immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)

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Empery Digital Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-009087

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