Urgent.ly Inc. received notification from The Nasdaq Stock Market LLC regarding non-compliance with Nasdaq’s Listing Rule 5550(a)(2). The company's common stock had traded below $1.00 per share for 30 consecutive business days. This notification has no immediate effect on the listing or trading of Urgently’s common stock.
Urgently has 180 calendar days, until March 31, 2025, to regain compliance with the Minimum Bid Price Requirement. To achieve this, the closing bid price of its common stock must be at least $1.00 per share for a minimum of ten consecutive business days. The company intends to monitor its stock price and consider options, including a reverse stock split, if necessary.
Failure to regain compliance could lead to delisting, though Urgently may be eligible for an additional 180-day compliance period if certain conditions are met. The company plans to review all available options to address this listing deficiency. There is no assurance that compliance will be regained.
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