Urgently Notified By Nasdaq Of Non-Compliance With Nasdaq Minimum Bid Price Requirement
Urgently Inc. (Nasdaq: ULY), a leading U.S. provider of digital roadside and mobility assistance technology, has been notified by Nasdaq of non-compliance with the minimum bid price requirement. The company's stock price has been below $1.00 for 30 consecutive business days. Urgently has until March 31, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days.
If unsuccessful, Urgently may be eligible for an additional 180-day compliance period, provided it meets other listing standards. The company is considering options to regain compliance, including a potential reverse stock split, but there is no guarantee of success. Failure to comply could result in delisting from Nasdaq, subject to appeal.
Urgently Inc. (Nasdaq: ULY), un importante fornitore statunitense di tecnologia per l'assistenza digitale stradale e la mobilità, è stata informata da Nasdaq sulla non conformità con il requisito del prezzo minimo di offerta. Il prezzo dell'azione della società è stato inferiore a $1.00 per 30 giorni lavorativi consecutivi. Urgently ha tempo fino al 31 marzo 2025 per ripristinare la conformità mantenendo un prezzo di chiusura di almeno $1.00 per un minimo di dieci giorni lavorativi consecutivi.
Se non dovesse avere successo, Urgently potrebbe essere idonea a un ulteriore periodo di conformità di 180 giorni, a condizione che soddisfi altri standard di quotazione. L'azienda sta considerando opzioni per ripristinare la conformità, incluso un possibile frazionamento inverso delle azioni, ma non c'è garanzia di successo. Il mancato rispetto della conformità potrebbe comportare la de-lista da Nasdaq, soggetta a appello.
Urgently Inc. (Nasdaq: ULY), un importante proveedor estadounidense de tecnología de asistencia digital en carretera y movilidad, ha sido notificada por Nasdaq sobre la no conformidad con el requisito del precio mínimo de oferta. El precio de las acciones de la compañía ha estado por debajo de $1.00 durante 30 días hábiles consecutivos. Urgently tiene hasta el 31 de marzo de 2025 para recuperar la conformidad manteniendo un precio de cierre de al menos $1.00 durante un mínimo de diez días hábiles consecutivos.
Si no tiene éxito, Urgently podría ser elegible para un período adicional de cumplimiento de 180 días, siempre que cumpla con otros estándares de cotización. La compañía está considerando opciones para recuperar la conformidad, incluido un posible desdoblamiento de acciones inverso, pero no hay garantía de éxito. El incumplimiento podría resultar en la deslistación de Nasdaq, sujeta a apelación.
Urgently Inc. (Nasdaq: ULY)는 디지털 도로 및 이동 지원 기술을 제공하는 미국의 주요 공급업체로, 나스닥으로부터 최소 호가 가격 요건에 대한 비준수 통지를 받았습니다. 회사의 주가는 30거래일 연속으로 $1.00 이하였습니다. Urgently는 2025년 3월 31일까지 최소 10거래일 연속으로 $1.00 이상 유지함으로써 준수를 회복해야 합니다.
만약 성공하지 못할 경우, Urgently는 다른 상장 기준을 충족하면 추가 180일 준수 기간을 신청할 수 있습니다. 회사는 준수를 회복하기 위한 옵션을 고려 중입니다, 여기에는 잠재적 역분할이 포함되지만, 성공 보장은 없습니다. 준수 실패는 나스닥에서 상장 폐지될 수 있으며, 이의 제기가 가능합니다.
Urgently Inc. (Nasdaq: ULY), un fournisseur américain de premier plan en technologie d'assistance routière numérique et de mobilité, a été notifié par Nasdaq de sa non-conformité avec l'exigence de prix minimum de l'offre. Le prix de l'action de la société a été inférieur à 1,00 $ pendant 30 jours ouvrables consécutifs. Urgently a jusqu'au 31 mars 2025 pour rétablir la conformité en maintenant un prix de clôture d'au moins 1,00 $ pendant un minimum de dix jours ouvrables consécutifs.
En cas d'échec, Urgently pourrait être éligible à une période de conformité supplémentaire de 180 jours, à condition de répondre à d'autres normes de cotation. La société envisage des options pour retrouver la conformité, y compris un éventuel regroupement d'actions, mais il n'y a aucune garantie de succès. Le manque de conformité pourrait entraîner une radiation de la cotation de Nasdaq, sous réserve d'appel.
Urgently Inc. (Nasdaq: ULY), ein führender US-Anbieter von digitaler Hilfe am Straßenrand und Mobilitätstechnologie, wurde von Nasdaq über die Nichteinhaltung des Mindestgebotspreises informiert. Der Aktienkurs des Unternehmens lag 30 aufeinanderfolgende Handelstage unter $1,00. Urgently hat bis zum 31. März 2025 Zeit, die Einhaltung wiederherzustellen, indem es einen Schlusskurs von mindestens $1,00 für mindestens zehn aufeinanderfolgende Handelstage aufrechterhält.
Bei Nichteinhaltung könnte Urgently für einen zusätzlichen 180-tägigen Einhaltungszeitraum berechtigt sein, vorausgesetzt, es erfüllt weitere Listungsstandards. Das Unternehmen prüft Optionen zur Wiederherstellung der Einhaltung, einschließlich einer möglichen rückläufigen Aktienzusammensetzung, jedoch gibt es keine Erfolgsgarantie. Die Nichteinhaltung könnte zur Delistung von Nasdaq führen, die anfechtbar ist.
- None.
- Stock price below $1.00 for 30 consecutive business days
- Risk of delisting from Nasdaq if compliance is not achieved
- Potential need for reverse stock split to meet minimum bid requirement
Insights
This notification from Nasdaq regarding non-compliance with the minimum bid price requirement is a significant concern for Urgently Inc. (ULY). The 180-day compliance period until March 31, 2025, puts pressure on the company to boost its stock price above
The implications are serious:
- Risk of delisting if compliance isn't achieved
- Potential need for a reverse stock split, which could signal weakness to investors
- Reduced investor confidence and potential difficulty in raising capital
While the company has options, including a possible additional 180-day period, the situation reflects underlying challenges in ULY's market performance. Investors should closely monitor the stock's price action and any strategic moves by management to address this issue. The threat of delisting could lead to increased volatility and liquidity risks for shareholders.
Urgently's non-compliance with Nasdaq's minimum bid price requirement is a red flag for investors. With a market cap of
- Weak market perception of the company's value
- Possible cash flow or profitability issues in the digital roadside assistance sector
- Challenges in scaling the business model effectively
If a reverse split becomes necessary, it could lead to further price volatility and potentially lower liquidity. Investors should evaluate ULY's fundamentals, cash position and growth prospects against this compliance issue. The company's ability to innovate in the mobility assistance technology space will be important for long-term viability and stock price recovery.
Intends to Cure the Deficiency and Return to Compliance with Nasdaq Standard
VIENNA, Va., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Urgent.ly Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today that The Nasdaq Stock Market LLC (“Nasdaq”) notified Urgently (the “Notice”) that Urgently is not in compliance with Nasdaq’s Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) because the minimum bid price of Urgently’s common stock was below
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), Urgently has 180 calendar days, or until March 31, 2025, to regain compliance with the Minimum Bid Price Requirement (the “Compliance Period”). To regain compliance, the closing bid price of Urgently’s common stock must be at least
If Urgently has not been deemed in compliance prior to the expiration of the Compliance Period, Urgently may be eligible for an additional 180-day compliance period (the “Second Compliance Period”), provided that it meets the applicable market value of publicly held shares requirement for continued listing and all other initial listing standards for The Nasdaq Capital Market (with the exception of the Minimum Bid Price Requirement), and would need to provide written notice of its intention to cure the bid price deficiency during the Second Compliance Period. However, if it appears to Nasdaq that Urgently will be unable to cure the deficiency, or if Urgently is otherwise not eligible for the Second Compliance Period, Nasdaq would notify Urgently that its common stock would be subject to delisting. Urgently may appeal any such determination to delist its securities, but there can be no assurance that any such appeal would be successful.
Urgently intends to monitor closely the closing bid price of its common stock and to consider plans for regaining compliance with Nasdaq’s Listing Rule 5550(a)(2), including by proposing a reverse stock split for stockholder approval, if necessary. While Urgently plans to review all available options, there can be no assurance that it will be able to regain compliance with Nasdaq Listing Rule 5550(a)(2) during the Compliance Period, any subsequent extension period, or at all.
About Urgently
Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.
For media and investment inquiries, please contact:
Press: media@geturgently.com
Investor Relations: investorrelations@geturgently.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions you that statements included in this release that are not a description of historical facts are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the Company’s ability to regain compliance with the Minimum Bid Price Requirement, the Company’s intentions to monitor its closing bid price of its common stock and the Company’s plans to consider implementing available options to regain compliance with the Minimum Bid Price Requirement. The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of important risks and uncertainties, including without limitation the risk that the Company may not meet the Minimum Bid Price Requirement during any compliance period or in the future, the risk that the Company may not otherwise meet the requirements for continued listing under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, and the risk that the Company may not ultimately meet applicable Nasdaq requirements after such relief, if any, is granted, among other important risks and uncertainties. A further description of the risks and uncertainties relating to the business of the Company is contained in the Company’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission. The Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
FAQ
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