Above Food Ingredients Inc. announced on April 22, 2025, that it requested a hearing and extended stay in response to a staff determination notice received from Nasdaq on April 14, 2025. The hearing is scheduled to take place on May 22, 2025.
The company previously received notice on October 10, 2024, regarding non-compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1), as its closing bid price was below $1.00 per share for 30 consecutive business days. Above Food expressed confidence in regaining compliance with all applicable requirements for continued listing well in advance of the hearing date.
Above Food also stated its intention to remedy the deficiency related to the delayed filing of its interim balance sheet and income statement for the period ended July 31, 2024, on Form 6-K, by filing it before April 30. The company believes its recent restructuring and the expected closing of the Palm transaction will materially enhance shareholder value and help meet the minimum bid price requirement.
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