Delixy Given 180 Days to Restore $1 Minimum Bid Price on Nasdaq
Delixy's Class A shares closed below the $1.00 minimum bid price for 30 consecutive business days from March 11 to April 22, 2026, triggering a Nasdaq deficiency notification. The company has until October 20, 2026 to restore a $1.00 closing bid price for 10 business days or face potential delisting.
1. Non-Compliance Notification
On April 23, 2026, Nasdaq notified Delixy that its Class A shares had closed below the $1.00 minimum bid price for 30 consecutive business days from March 11 to April 22, triggering a deficiency under Nasdaq Listing Rule 5550(a)(2). The notice does not currently impact Delixy's listing on the Nasdaq Capital Market.
2. Compliance Restoration Timeline
Delixy has 180 calendar days, until October 20, 2026, to regain compliance by achieving a closing bid price of at least $1.00 for 10 consecutive business days. Failure to meet this requirement could lead to delisting proceedings or a request for additional time.
3. Potential Remedies and Business Impact
To meet the bid price threshold, Delixy may implement measures such as a reverse stock split of its Class A shares. The company's core oil-trading operations remain unaffected, and management will monitor share prices closely while evaluating compliance options.