Alliance Entertainment Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Alliance Entertainment Holding Corporation (Nasdaq: AENT) has announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) after the closing bid price of the Company's common stock has been at $1.00 per share or greater for ten consecutive business days from January 4, 2024, to January 18, 2024.

PLANTATION, Fla., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Alliance Entertainment Holding Corporation (Nasdaq: AENT) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, toys and collectibles, announced today that on January 19, 2024, the Company received written notice from The Nasdaq Stock Market LLC ("Nasdaq") that for the ten consecutive business days from January 4, 2024, to January 18, 2024, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, Alliance Entertainment has regained compliance with Nasdaq Listing Rule 5550(a)(2).

About Alliance Entertainment

Alliance Entertainment (NASDAQ: AENT) is a premier distributor of music, movies, toys, collectibles, and consumer electronics. We offer over 375,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a robust suite of services to resellers and retailers worldwide. Our efficient processing and essential seller tools noticeably reduce the costs associated with administrating multiple vendor relationships, while helping omni-channel retailers expand their product selection and fulfillment goals. For more information, visit www.aent.com.

For investor inquiries, please contact:
MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
AENT@mzgroup.us 

FAQ

What is the ticker symbol for Alliance Entertainment Holding Corporation?

The ticker symbol for Alliance Entertainment Holding Corporation is AENT.

What did Alliance Entertainment Holding Corporation announce on January 22, 2024?

Alliance Entertainment Holding Corporation announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) after the closing bid price of the Company's common stock has been at $1.00 per share or greater for ten consecutive business days from January 4, 2024, to January 18, 2024.

What is the significance of regaining compliance with Nasdaq Listing Rule 5550(a)(2)?

Regaining compliance with Nasdaq Listing Rule 5550(a)(2) means that Alliance Entertainment Holding Corporation has met the requirement of maintaining a closing bid price of $1.00 per share or greater for ten consecutive business days, ensuring its continued listing on the Nasdaq Stock Market LLC.