Stran & Company announced on December 20, 2024, that it received a Staff delisting determination from The Nasdaq Stock Market LLC on December 17, 2024. This determination was issued because the company failed to file its Quarterly Reports on Form 10-Q for the periods ended March 31, 2024, June 30, 2024, and September 30, 2024.
The Nasdaq Staff noted that Stran did not meet the terms of the exception granted until December 16, 2024, to regain compliance with the Filing Rule. The company's failure to file the required Forms 10-Q led directly to this delisting determination.
While the Staff Determination has no immediate effect on trading, Stran intends to timely submit a request for a hearing before a Hearings Panel and for an extended stay. There is no assurance that an additional extension will be granted or that the company will regain compliance by any extended deadline, posing a significant risk to its Nasdaq listing.
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