The Real Good Food Company Announces Nasdaq Delisting
The Real Good Food Company (RGF) announced receiving a delisting notice from Nasdaq due to non-compliance with listing requirements, specifically failing to file periodic financial reports. Trading of RGF's common stock on Nasdaq will be suspended on January 7, 2025.
The company's shares are expected to transition to trading on the Pink Open Market (OTC), commonly known as 'pink sheets'. However, due to the company's filing delays, trading may eventually move to OTC's Expert Market, where stock quotes will not be publicly viewable.
La Real Good Food Company (RGF) ha annunciato di aver ricevuto una comunicazione di de-listing da Nasdaq a causa della non conformità con i requisiti di quotazione, in particolare per non aver presentato rapporti finanziari periodici. La contrattazione delle azioni ordinarie di RGF su Nasdaq sarà sospesa il 7 gennaio 2025.
Si prevede che le azioni della società passeranno alla negoziazione sul Pink Open Market (OTC), comunemente conosciuto come 'pink sheets'. Tuttavia, a causa dei ritardi nelle presentazioni della società, la negoziazione potrebbe eventualmente spostarsi sul Mercato Expert dell'OTC, dove le quotazioni delle azioni non saranno visibili pubblicamente.
La Real Good Food Company (RGF) anunció haber recibido un aviso de deslisting de Nasdaq debido al incumplimiento de los requisitos de cotización, específicamente por no presentar informes financieros periódicos. La negociación de las acciones ordinarias de RGF en Nasdaq será suspendida el 7 de enero de 2025.
Se espera que las acciones de la empresa pasen a negociarse en el Pink Open Market (OTC), comúnmente conocido como 'pink sheets'. Sin embargo, debido a los retrasos en las presentaciones de la empresa, la negociación podría eventualmente trasladarse al Mercado Expert de OTC, donde las cotizaciones de las acciones no serán visibles públicamente.
리얼 굿 푸드 컴퍼니 (RGF)는 정기 재무 보고서 제출 실패로 인해 나스닥의 상장 요구사항을 준수하지 않아 나스닥에서 상장 폐지 통지를 받았다고 발표했습니다. RGF의 보통주 거래는 2025년 1월 7일에 중단될 예정입니다.
회사의 주식은 핑크 오픈 마켓(OTC)에서 거래될 것으로 예상되며, 일반적으로 '핑크 시트'로 알려져 있습니다. 그러나 회사의 제출 지연으로 인해 거래는 결국 OTC의 전문 시장으로 이동할 수 있으며, 여기서는 주식 시세가 공개적으로 볼 수 없게 됩니다.
La Real Good Food Company (RGF) a annoncé avoir reçu un avis de radiation de Nasdaq en raison du non-respect des exigences de cotation, en particulier pour ne pas avoir déposé ses rapports financiers périodiques. La négociation des actions ordinaires de RGF sur Nasdaq sera suspendue le 7 janvier 2025.
Les actions de la société devraient passer à la négociation sur le Pink Open Market (OTC), communément appelé 'pink sheets'. Cependant, en raison des retards dans le dépôt des documents, la négociation pourrait éventuellement passer au Marché Expert de l'OTC, où les cotations des actions ne seront pas visibles publiquement.
Die Real Good Food Company (RGF) gab bekannt, dass sie eine Mitteilung über die Delistung von Nasdaq erhalten hat, da sie die Anforderungen an die Listung nicht erfüllt hat, insbesondere weil sie periodische Finanzberichte nicht eingereicht hat. Der Handel mit den Stammaktien von RGF an der Nasdaq wird am 7. Januar 2025 ausgesetzt.
Es wird erwartet, dass die Aktien des Unternehmens auf dem Pink Open Market (OTC) gehandelt werden, der allgemein als 'pink sheets' bekannt ist. Aufgrund der Einreichungsverzögerungen des Unternehmens könnte der Handel jedoch schließlich auf den Expert Market des OTC verlagert werden, wo die Aktienkurse nicht öffentlich einsehbar sind.
- None.
- Delisting from Nasdaq effective January 7, 2025
- Failure to file required periodic financial reports
- Demotion to OTC Pink Sheets trading
- Potential further demotion to Expert Market with restricted quote visibility
- Loss of mainstream market exposure and potential reduced liquidity
Insights
The timing is particularly concerning for a company in the competitive frozen foods sector where capital requirements for inventory, distribution and marketing are substantial. Market impact analysis indicates:
- Immediate loss of institutional investor base
- Reduced access to capital markets
- Higher borrowing costs
- Potential breach of debt covenants if any
For retail investors, the potential move to the Expert Market is especially problematic as it would effectively make the stock nearly impossible to trade for most individual investors. This development suggests serious underlying issues beyond mere reporting delays.
The migration to pink sheets and potentially to the Expert Market, triggers several critical legal considerations:
- Increased vulnerability to shareholder litigation due to potential value destruction
- Reduced transparency requirements could impact minority shareholder rights
- Possible SEC investigations regarding the failure to file timely reports
The lack of timely financial reporting could indicate deeper governance issues or potential violations of securities laws. Shareholders should be particularly vigilant about their rights and potential remedies under securities laws, as the transition to less regulated markets typically reduces investor protections and oversight mechanisms.
CHERRY HILL, N.J., Jan. 06, 2025 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (Nasdaq: RGF) (“Real Good Foods” or the “Company ”), a leading health and wellness frozen and refrigerated foods company, today announced that the Company received a notice from The Nasdaq Stock Market LLC ("Nasdaq") that it has determined to delist the Company's common stock on Nasdaq. The delisting is a result of the Company's failure to demonstrate compliance with Nasdaq Listing 5250(c)(1) for failure to file periodic financial reports. Trading in the Company's common stock on Nasdaq will be suspended on January 7, 2025. As a result of the foregoing, the Company's common stock is expected to commence trading on the Pink Open Market operated by the OTC Markets Group, Inc. (“OTC”), which is commonly referred to as the “pink sheets,” commencing on January 7, 2025. However, given the Company’s situation with regards to the lack of timely filing, trading may ultimately move to OTC’s “Expert Market,” where quotes for the Company’s common stock will no longer be available for public viewing.
About Real Good Food Company
Real Good Foods (Nasdaq: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company’s mission is to provide “Real Food You Feel Good About Eating”, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks – available in over 16,000 stores nationwide with additional direct-to-consumer options.
To learn more, please visit our website at realgoodfoods.com or join us on social media @realgoodfoods – where we maintain some of the largest followings in the frozen food industry today.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the commencement of trading by the Company’s common stock on the Pink Open Market operated by the OTC and the quoting of such common stock on the OTC’s “Expert Market.” The Company has attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” or “would,” and similar expressions or the negative of these expressions.
Forward-looking statements represent management’s current expectations and predictions and are based on information available as of the time such statements are made. Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, it cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results or events, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause its actual results to materially differ from those expressed or implied by these forward-looking statements, including the risk of further delays in the filing of the Company’s late periodic reports and restated financial statements in amendments to prior periodic reports, the discovery of additional information regarding the errors identified in the Company’s previously issued consolidated financial statements, the scope of the anticipated restatement of previously issued financial statements as a result of the errors, the remediation by management and the Company’s independent registered public accounting firm of the identified material weaknesses in internal control over financial reporting, and other risk factors described in the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2022 and other documents filed with or furnished to the SEC by the Company from time to time. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.
Investor Relations Contact
The Real Good Food Company
3 Executive Campus, Suite 155
Cherry Hill, NJ 08002
ir@realgoodfoods.com
FAQ
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