Akanda filed its delayed Form 20-F on June 9, prompting Nasdaq to close the non-compliance case on June 10 and avoid a potential delisting. The stock jumped 70% in premarket trading following compliance restoration, after a 1-for-4.5 reverse split reduced outstanding shares to 534,000.
Akanda received a Nasdaq notice on May 20 for failure to file its annual Form 20-F for fiscal 2025. The company submitted the delayed report on June 9, and Nasdaq confirmed closure of the non-compliance case on June 10, restoring listing status and averting potential delisting.
Following the compliance confirmation, Akanda shares rose 70% in premarket trading on June 12. Investors reacted positively to the removal of regulatory overhang, shifting sentiment from bearish to neutral.
Earlier this year, Akanda executed a 1-for-4.5 reverse stock split in April, reducing its share count to 534,000. The company also canceled a special shareholder meeting in May after failing to meet meeting conditions, refocusing on regulatory and operational priorities.
