Grom Social Enterprises, Inc.: Nasdaq/NYSE listing notice — Grom Social receives Nasdaq delisting notice for bid price non-compliance; hearing set for May 2

Grom Social Enterprises, Inc.

Received Nasdaq letter on Feb 29, 2024 for failure to meet $1 minimum bid price for 30 consecutive business days.
Not eligible for compliance period due to two reverse stock splits over prior two years (cumulative ratio 250:1 or more).
Requested hearing on March 6; hearing scheduled for May 2, 2024; suspension stayed pending Panel decision.
No assurance of favorable outcome; risk of delisting from Nasdaq Capital Market if appeal fails.

Key facts

Extracted from this filing and checked against the source text.

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

Grom Social Enterprises, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)(iv)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)(iv)

Exact text from the filing

February 29, 2024, Grom Social Enterprises, Inc. (the “Company”) received a letter (the “Letter”) from the staff (the “Nasdaq Staff”) of the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that unless the Company requests a hearing before the Nasdaq Hearings Panel (the “Panel”) by March 7, 2024, the Company’s securities will be delisted from the Nasdaq Capital Market based upon the Company’s non-compliance with Nasdaq’s Minimum Bid Requirement (as defined below) as set forth in Nasdaq Listing Rules 5550(a)(2). The Letter specified that the Company is not

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Source: SEC EDGAR

accession 0001683168-24-001355

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