urban-gro Regains Nasdaq Compliance After Reverse Split, Equity Restoration and Report Filings
urban-gro regained compliance with Nasdaq listing standards by filing delinquent 10-K and 10-Q reports, completing transactions to lift stockholders’ equity above required thresholds, executing a reverse stock split to meet the $1 minimum bid price and holding its annual meeting. It will remain under a one-year monitor to ensure compliance.
1. Regaining Nasdaq Listing Compliance
urban-gro received written confirmation that it now satisfies Nasdaq requirements for periodic reporting, minimum stockholders’ equity, minimum bid price and annual meeting obligations after addressing prior deficiencies.
2. Reverse Split and Equity Restoration
The company executed a reverse stock split that lifted its share price to at least $1.00 for the required period and completed transactions that demonstrated stockholders’ equity above the minimum threshold.
3. One-Year Monitoring Requirement
Under Nasdaq Listing Rule 5815(d)(4)(A), urban-gro will undergo a discretionary panel monitoring process for one year to ensure continued adherence to listing standards and proactive compliance management.