Nuvini faces Nasdaq delisting risk after failing to meet US$35 million market value rule
NVNI•Hearing request would stay suspension
A timely hearing request stays any suspension pending a Nasdaq Hearings Panel decision; the shares continue trading under NVNI.
Company plans to seek compliance under equity standard
The company plans to seek compliance under the stockholders’ equity standard, which requires a minimum of US$2.5 million.
Nasdaq staff determination letter cites market value shortfall
Nvni Group received a Nasdaq staff determination letter on July 28 for failing the US$35 million market value of listed securities requirement.
Absent a hearing request, Nasdaq would suspend trading at the open on Aug. 6 and file a Form 25-NSE with the SEC.
