Greenlane Holdings, Inc. (GNLN): Nasdaq/NYSE listing notice — Greenlane receives Nasdaq deficiency notice for bid price below $1.00

Greenlane Holdings, Inc.

Nasdaq notified Greenlane on Aug 21, 2023, that its Class A common stock bid price was below $1.00 for 30 consecutive business days.
Company has until Feb 20, 2024 to regain compliance under Nasdaq Listing Rule 5450(a)(1).
Compliance can be achieved by closing at $1.00 or more for 10 consecutive business days or by implementing a reverse stock split.
If not compliant by Feb 20, 2024, Greenlane may seek a second 180-day period if it meets other listing standards for The Nasdaq Capital Market.
Company states it will monitor bid price and evaluate available options to cure the deficiency.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

Greenlane Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

August 21, 2023, Greenlane Holdings, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s Class A common stock, par value $0.01 per share (the “Class A Common Stock”) had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (“Rule 5450(a)(1)”). The Nasdaq deficiency letter has no immediate effect

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Greenlane Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001743745-23-000062

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