Functional Brands Inc. Receives Nasdaq Staff Delisting Determination
Rhea-AI Summary
Functional Brands (NASDAQ: MEHA) received a Nasdaq Staff Determination on June 9, 2026 to delist its common stock from the Nasdaq Capital Market under the Low Priced Stocks Rule.
Trading will be suspended June 16, 2026, with a Form 25-NSE filed to remove the listing. The company may appeal to a Nasdaq Hearings Panel but offers no assurance of success.
AI-generated analysis. Not financial advice.
Positive
- Company may request a Nasdaq Hearings Panel review of the Staff Determination
- Appeal process could provide additional time to address listing deficiencies
Negative
- Nasdaq Staff Determination to delist MEHA from the Nasdaq Capital Market
- Trading suspension effective at market open on June 16, 2026
- Stock traded at or below $0.10 for ten consecutive trading days
- Ongoing noncompliance with Nasdaq $1.00 minimum bid price requirement
- Company states there is no assurance of successful appeal or regaining compliance
News Market Reaction – MEHA
On the day this news was published, MEHA declined 54.59%, reflecting a significant negative market reaction. Argus tracked a peak move of +8.9% during that session. Argus tracked a trough of -71.1% from its starting point during tracking. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $1M from the company's valuation, bringing the market cap to $907,192 at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jun 05 | Acquisition financing talks | Positive | -17.9% | Advanced talks with strategic partners to fund BullionFX | Alchemy commercialization. |
| Jun 04 | Financial update & deal | Positive | +28.3% | Improved balance sheet metrics while advancing BullionFX | Alchemy acquisition plans. |
| Jun 03 | Reverse split approval | Positive | -1.0% | Shareholders approved reverse split, clearing key condition for $142.9M acquisition. |
| May 27 | Meeting adjournment | Neutral | +1.4% | Adjourned special stockholder meeting due to quorum, rescheduled with same proposals. |
| May 22 | Major acquisition deal | Positive | +38.7% | Definitive agreement to acquire Alchemy platform in $142.9M all‑stock asset deal. |
Recent news has centered on a large BullionFX | Alchemy acquisition and balance sheet actions, with mixed price reactions: some sharp gains on deal announcements and reverse split progress, but also notable selloffs despite seemingly positive strategic updates.
Over the past month, Functional Brands has focused on a transformational all‑stock BullionFX | Alchemy acquisition valued at $142.9 million, combined with balance sheet restructuring and a shareholder‑approved reverse stock split. These moves aimed at strategic diversification into blockchain-based assets and Nasdaq compliance. Price reactions have been volatile, with both strong rallies and selloffs around acquisition milestones. Today’s Nasdaq staff delisting determination follows earlier bid‑price deficiency notices, contrasting with prior efforts to use a reverse split and capital actions to address listing requirements.
Regulatory & Risk Context
Market Pulse Summary
The stock dropped -54.6% in the session following this news. A negative reaction despite earlier strategic initiatives fits a pattern where positive‑sounding developments sometimes met with selling pressure, as seen around certain BullionFX | Alchemy updates. The Nasdaq staff delisting determination, referencing prolonged bid prices at or below $0.10, underscores heightened listing and liquidity risk. Even with prior steps like reverse split authorization and acquisition plans, the prospect of trading suspension and a Form 25‑NSE filing could reinforce concerns about long‑term viability and access to capital markets.
Key Terms
form 25-nse regulatory
nasdaq listing rule 5800 series regulatory
nasdaq hearings panel regulatory
AI-generated analysis. Not financial advice.
Lake Oswego, Oregon--(Newsfile Corp. - June 15, 2026) - Functional Brands Inc. (NASDAQ: MEHA) (the "Company"), a leading innovator in wellness and performance products, announced today that on June 9, 2026, it received a written notification (the "Staff Determination") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that Nasdaq has determined to delist the Company's common stock from The Nasdaq Capital Market.
As previously disclosed, on December 30, 2025, the Company received notice from Nasdaq that the closing bid price of its common stock had been below
The Staff Determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule"). Under the Low Priced Stocks Rule, if during any compliance period a company's security has a closing bid price of
As a result of the Staff Determination, trading of the Company's common stock will be suspended at the opening of business on June 16, 2026, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC") to remove the Company's securities from listing and registration on The Nasdaq Stock Market.
The Company may request a hearing before the Nasdaq Hearings Panel (the "Panel") to appeal the Staff Determination, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A hearing request must be submitted, along with a non-refundable fee of
There can be no assurance that the Company will be successful in its appeal or that it will be able to regain compliance with Nasdaq's listing requirements within the timeframe that may be provided by the Panel, or at all.
About Functional Brands Inc.
Functional Brands Inc. (NASDAQ: MEHA) is a leading innovator in wellness and performance products dedicated to Making Everyone Healthy Again™. The Company's portfolio includes Kirkman®, one of the most trusted names in nutritional supplements for over 75 years with products available in more than 35 countries; P2i™ by Kirkman® Prenatal Multivitamin & Multimineral, the first prenatal supplement to align with FIGO standards and comply with California SB 646; and Tru2u.health, a consumer-facing telehealth and wellness platform. Functional Brands operates an FDA-registered, cGMP-compliant manufacturing facility in Oregon.
For more information, visit www.functionalbrandsinc.com and www.kirkmangroup.com, and www.Tru2u.health. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release.
Cautionary Statement Regarding Forward-Looking Statements
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 include, but are not limited to, statements regarding the Company's intention to appeal the Staff Determination, the potential outcome of any such appeal, and the Company's ability to regain compliance with Nasdaq's listing requirements. These statements are based on management's current expectations, estimates, and projections about the Company's business and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
Such risks and uncertainties include, but are not limited to: the outcome of the Company's appeal before the Panel; the Company's ability to demonstrate a plan to regain compliance with Nasdaq's listing requirements; and general market and economic conditions. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
Investor Relations Contact:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301450