BurgerFi International, Inc.: Nasdaq/NYSE listing notice — BurgerFi receives Nasdaq notice for non-compliance with minimum bid price rule

BurgerFi International, Inc.

Received Nasdaq notice on Jan 23, 2024, for failing to maintain minimum bid price of $1.00 per share.
Common stock bid price closed below $1.00 for 30 consecutive business days.
Company has 180 days, until July 22, 2024, to regain compliance by closing at or above $1.00 for 10 consecutive days.
If not compliant, may transfer to Nasdaq Capital Market for additional 180-day period, subject to other requirements.
Intends to monitor bid price and seek compliance; delisting possible if not cured.

Key facts

Extracted from this filing and checked against the source text.

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

BurgerFi International, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

January 23, 2024, BurgerFi International, Inc. (the “Company”) received a notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules 5450(a)(1) (the “Bid Price Rule”) for continued listing. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”) provides that a failure to meet the minimum bid price req

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Source: SEC EDGAR

accession 0001723580-24-000004

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