IZEA Regains Compliance With Nasdaq Bid Price Rule

Rhea-AI Summary

IZEA Worldwide, Inc. (IZEA) has regained compliance with Nasdaq Listing Rule 5550(a)(2) after its stock price met the required minimum bid of $1.00 for ten consecutive business days. This follows a previous non-compliance notification on November 12, 2020. The company was given a 180-day period to rectify the issue, which it successfully accomplished before the deadline, thanks to favorable market conditions. IZEA continues to facilitate transactions between brands and social influencers, focusing on enhancing the Creator Economy.

Positive

• Regained compliance with Nasdaq Listing Rule 5550(a)(2), ensuring continued listing.

Negative

• Previous non-compliance notification may have impacted investor confidence.

Orlando, Florida, Jan. 06, 2021 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA) (the “Company”), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, today received formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company's common stock to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's common stock was at $1.00 per share or greater for the prior 10 consecutive business days.

Nasdaq had previously notified the Company of its non-compliance with Listing Rule 5550(a)(2) on November 12, 2020. In accordance with its Listing Rules, Nasdaq afforded the Company 180 calendar days (until May 11, 2021) to regain compliance. Prior to the expiration of the compliance period, the Company successfully regained compliance with the listing standard as a result of favorable market conditions.

About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive measurable return on investment.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking  terms such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations of sales activity, revenue and margins based on bookings, plans to increase the size of our sales team, the financial impact of investments in our software business, and continuation of new IZEAx customers and their effect on future sales.

Forward-looking statements involve inherent risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors, including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission.  IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

FAQ

What does IZEA's Nasdaq compliance mean for investors?

IZEA regaining compliance with Nasdaq Listing Rule 5550(a)(2) ensures its stock remains listed, which is typically seen as a positive for investor confidence.

When did IZEA regain compliance with Nasdaq?

IZEA regained compliance on January 6, 2021, after its stock price met the $1.00 minimum bid requirement for ten consecutive business days.

What was the reason for IZEA's previous non-compliance?

IZEA was notified of non-compliance with Nasdaq Listing Rule 5550(a)(2) on November 12, 2020, due to its stock price falling below the required minimum bid price.

How has IZEA's stock performance changed recently?

IZEA's stock price has improved to meet Nasdaq's minimum bid requirement, demonstrating positive market conditions.

What is the significance of the compliance period IZEA was given?

IZEA was afforded 180 calendar days to regain compliance, allowing time for its stock price to recover, which it successfully achieved.