AppHarvest, Inc.: Nasdaq/NYSE listing notice — AppHarvest receives Nasdaq deficiency notice for bid price below $1.00

AppHarvest, Inc.

Received Nasdaq letter on April 18, 2023; 180-day grace period until Oct 16, 2023 to regain compliance.
Closing bid price of common stock below $1.00 for 30 consecutive business days.
Company filed preliminary proxy to approve reverse stock split (1:10 to 1:20) as a remedy.
If not compliant by Oct 16, may seek additional 180-day period or face delisting.
No immediate effect on listing; stock continues trading on Nasdaq under symbol APPH.

Key facts

Extracted from this filing and checked against the source text.

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

AppHarvest, 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

April 18, 2023, AppHarvest, Inc. (the “Company”) received a deficiency letter (the “Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days prior to the date of the Letter, the closing bid price for the Company’s common stock, par value $0.0001 per share (the “Common Stock”), was below $1.00 per share, which is the minimum closing bid price required for continued listing on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Requirement”). The Letter is a notice of deficiency, not delist

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Source: SEC EDGAR

accession 0001807707-23-000038

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