The Dixie Group Inc.
09/26/2024 | Press release | Distributed by Public on 09/26/2024 14:34
Failure to Satisfy Listing Rule Form 8 K
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed on March 26, 2024, The Dixie Group, Inc. (the "Company") received an extension of 180 days to regain compliance with the Nasdaq's minimum $1.00 bid price requirement set forth in Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the "bid price requirement").
On September 24, 2024, the Company received a letter from Nasdaq notifying the Company that the Company had not regained compliance with the bid price requirement by the required compliance date and, as a result, the Company's common stock is subject to delisting.
The Company has until October 1, 2024 to appeal this determination. If the Company elects to appeal Nasdaq's determination, the delisting of the Company's common stock will be automatically stayed pending the decision of the Nasdaq listing qualifications hearing panel. If the Company decides not to appeal Nasdaq's determination, trading of the Company's common stock will be suspended at the opening of business on October 3, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.
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