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S&W Seed Company Receives Notice of Nasdaq Non-Compliance with Listing Rule 5250(c)(1)

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S&W Seed Company (Nasdaq: SANW) has received a notice from Nasdaq on October 17, 2024, regarding non-compliance with Listing Rule 5250(c)(1) due to failure to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024. The company has 60 days to submit a compliance plan to Nasdaq. Additionally, SANW implemented a 1-for-19 reverse stock split effective October 18, 2024, and must regain compliance with Nasdaq's $1.00 bid price requirement by November 11, 2024. The notice currently has no immediate effect on SANW's listing on the Nasdaq Capital Market.

S&W Seed Company (Nasdaq: SANW) ha ricevuto una comunicazione da Nasdaq il 17 ottobre 2024, riguardante la non conformità alla Regola di Quotazione 5250(c)(1) a causa del mancato invio del suo Rapporto Annuale sul Modulo 10-K per l'esercizio conclusosi il 30 giugno 2024. L'azienda ha 60 giorni per presentare un piano di conformità a Nasdaq. Inoltre, SANW ha attuato un consolidamento azionario inverso 1-per-19, efficace dal 18 ottobre 2024, e deve ripristinare la conformità con il requisito del prezzo di offerta di $1.00 di Nasdaq entro l'11 novembre 2024. La comunicazione non ha attualmente alcun effetto immediato sulla quotazione di SANW nel Nasdaq Capital Market.

S&W Seed Company (Nasdaq: SANW) ha recibido un aviso de Nasdaq el 17 de octubre de 2024, respecto al incumplimiento de la Regla de Cotización 5250(c)(1) debido a la falta de presentación de su Informe Anual en el Formulario 10-K para el año fiscal que terminó el 30 de junio de 2024. La empresa tiene 60 días para presentar un plan de cumplimiento a Nasdaq. Además, SANW implementó un desdoblamiento de acciones inverso de 1 por 19 con efecto desde el 18 de octubre de 2024, y debe recuperar el cumplimiento con el requisito de precio de oferta de $1.00 de Nasdaq antes del 11 de noviembre de 2024. El aviso actualmente no tiene efecto inmediato en la cotización de SANW en el Nasdaq Capital Market.

S&W Seed Company (Nasdaq: SANW)는 2024년 10월 17일 Nasdaq으로부터 2024년 6월 30일 종료된 회계연도에 대한 10-K 양식 연례 보고서를 제출하지 않아 Listing Rule 5250(c)(1) 비준수에 관한 통지를 받았습니다. 회사는 Nasdaq에 60일 이내에 이행 계획을 제출해야 합니다. 추가로, SANW는 2024년 10월 18일부터 유효한 1 대 19 리버스 스톡 스플릿을 시행했으며, 2024년 11월 11일까지 Nasdaq의 $1.00 매수 가격 요건을 충족해야 합니다. 현재 이 통지는 SANW의 Nasdaq Capital Market 상장에 즉각적인 영향을 미치지 않습니다.

S&W Seed Company (Nasdaq: SANW) a reçu un avis de Nasdaq le 17 octobre 2024, concernant un non-respect de la Règle de Cotation 5250(c)(1) en raison de l'absence de dépôt de son Rapport Annuel sur le Formulaire 10-K pour l'exercice clos le 30 juin 2024. La société dispose de 60 jours pour soumettre un plan de conformité à Nasdaq. De plus, SANW a mis en œuvre un split inverse de 1 pour 19 entrant en vigueur le 18 octobre 2024, et doit rétablir sa conformité avec l'exigence de prix d'offre de 1,00 $ de Nasdaq d'ici le 11 novembre 2024. L'avis n'a actuellement aucun effet immédiat sur la cotation de SANW sur le Nasdaq Capital Market.

S&W Seed Company (Nasdaq: SANW) hat am 17. Oktober 2024 eine Mitteilung von Nasdaq erhalten, die sich auf die Nichteinhaltung der Listungsregel 5250(c)(1) bezieht, da das Unternehmen seinen Jahresbericht auf dem Formular 10-K für das am 30. Juni 2024 endende Geschäftsjahr nicht eingereicht hat. Das Unternehmen hat 60 Tage, um einen Compliance-Plan bei Nasdaq einzureichen. Darüber hinaus hat SANW am 18. Oktober 2024 einen 1:19 Reverse-Split durchgeführt und muss bis zum 11. November 2024 die Compliance mit Nasdaqs $1,00 Angebotspreis-Anforderung wiedererlangen. Die Mitteilung hat derzeit keine unmittelbare Auswirkung auf die Listung von SANW im Nasdaq Capital Market.

Positive
  • None.
Negative
  • Failure to file Annual Report (Form 10-K) for FY2024
  • Risk of potential delisting from Nasdaq
  • Need for 1-for-19 reverse stock split indicates significant share price weakness
  • Must meet $1.00 minimum bid requirement by November 11, 2024

Insights

This non-compliance notice represents a significant regulatory challenge for S&W Seed Company. The failure to file the Form 10-K on time, combined with the existing bid price compliance issue, creates a complex situation that could lead to delisting. The recent 1-for-19 reverse stock split appears to be a strategic move to address the $1.00 minimum bid requirement, but the company now faces multiple compliance hurdles.

The 60-day window to submit a compliance plan is standard procedure, but the concurrent bid price deadline of November 11, 2024, adds pressure. Historical precedent shows that companies facing multiple compliance issues have a more challenging path to maintaining their listing status. Investors should monitor both the timely submission of the compliance plan and the stock's trading price post-reverse split as key indicators of the company's ability to maintain its Nasdaq listing.

LONGMONT, Colo., Oct. 23, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) announced that, on October 17, 2024, the Company received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market (Nasdaq), advising the Company that its failure to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (the Form 10-K) with the Securities and Exchange Commission (the SEC) is in contravention of Nasdaq Listing Rule 5250(c)(1) (the Filing Requirement), and could serve as an additional deficiency and basis for the delisting of the Company's securities from Nasdaq. The Company has 60 days from the date of the notice to submit a plan to regain compliance with the Filing Requirement for consideration by Nasdaq. The Company intends to timely submit a plan, including, but not limited to, a timeline in which the Form 10-K will be filed.

The Nasdaq Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market.

As announced on October 15, 2024, the Company implemented a reverse stock split of its common stock at a ratio of 1-for-19 shares effective for marketplace purposes with the open of business on Friday, October 18, 2024. The Company is subject to a separate review by Nasdaq to determine if the Company is able to regain compliance with Nasdaq's $1.00 bid price requirement by November 11, 2024.

About S&W Seed Company

Founded in 1980, S&W Seed Company is a global multi-crop, middle-market agricultural company headquartered in Longmont, Colorado. S&W's vision is to be the world's preferred proprietary seed company which supplies a range of sorghum, forage and specialty crop products that supports the growing global demand for animal proteins and healthier consumer diets. S&W is a global leader in proprietary sorghum and alfalfa seeds with significant research and development, production and distribution capabilities. Through a partnership, S&W is also focused on sustainable biofuel feedstocks primarily within camelina. For more information, please visit www.swseedco.com.

Safe Harbor Statement

This 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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "anticipates," "believe," "may," "future," "plan," "should" or "expects." Forward-looking statements in this release include, but are not limited to, the expected timing of the filing of the Form 10-K and the submission of a compliance plan to Nasdaq. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks and uncertainties related to the compilation and finalization of the Company's financial statements and Annual Report. These and other risks are identified in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended June 30, 2023 and in other filings subsequently made by us with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

Company Contact:                                                   

Investor Contact:

Mark Herrmann, Chief Executive Officer                   

Robert Blum

S&W Seed Company                                                 

Lytham Partners, LLC

Phone: (720) 593-3570                                             

Phone: (602) 889-9700

www.swseedco.com                                                 

sanw@lythampartners.com 


www.lythampartners.com

 

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SOURCE S&W Seed Company

FAQ

Why did S&W Seed Company (SANW) receive a Nasdaq non-compliance notice?

SANW received a Nasdaq non-compliance notice on October 17, 2024, for failing to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024.

What is the deadline for SANW to submit a compliance plan to Nasdaq?

SANW has 60 days from October 17, 2024, to submit a plan to regain compliance with Nasdaq's filing requirements.

What reverse stock split ratio did SANW implement on October 18, 2024?

SANW implemented a 1-for-19 reverse stock split effective October 18, 2024.

When must SANW comply with Nasdaq's $1.00 bid price requirement?

SANW must regain compliance with Nasdaq's $1.00 bid price requirement by November 11, 2024.

S&W Seed Company

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