ThredUp Inc.

12/09/2024 | Press release | Distributed by Public on 12/09/2024 15:07

Material Event Form 8 K

Item 8.01 Other Events.
Nasdaq Compliance Letter
On December 4, 2024, ThredUp Inc. (the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Nasdaq Minimum Bid Price Requirement") for continued inclusion on The Nasdaq Global Select Market. As previously disclosed in the Company's Current Report on Form 8-K filed on September 27, 2024 (the "September 27 8-K"), the Company received a written notice from Nasdaq on September 24, 2024, notifying the Company that it was not in compliance with the Nasdaq Minimum Bid Price Requirement because its Class A common stock (the "Common Stock") had failed to meet the $1.00 per share minimum bid price requirement for continued inclusion on The Nasdaq Global Select Market. To regain compliance with the Nasdaq Minimum Bid Price Requirement, the Common Stock was required to maintain a closing bid price of $1.00 per share or more for at least 10 consecutive business days. This requirement was met on December 2, 2024.
LTSE Compliance Letter
On December 4, 2024, the Company received a letter from the Listing Qualifications Department of The Long Term Stock Exchange ("LTSE") notifying the Company that it has regained compliance with the minimum bid price requirement set forth in LTSE Listing Rule 14.501(d)(3)(A) (the "LTSE Minimum Bid Price Requirement") for continued inclusion on the Long Term Stock Exchange. As previously disclosed in the September 27 8-K, the Company received a written notice from LTSE on September 26, 2024, notifying the Company that it was not in compliance with the LTSE Minimum Bid Price Requirement because its Common Stock had failed to meet the $1.00 per share minimum bid price requirement for continued inclusion on the LTSE. To regain compliance with the LTSE Minimum Bid Price Requirement, the Common Stock was required to maintain a closing bid price of $1.00 per share or more for at least 10 consecutive business days. This requirement was met on December 2, 2024.
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