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Allied Gaming & Entertainment Receives Nasdaq Staff Determination Regarding the Situation that the Stock Price is Below $1.00; Intends to Request Hearing Before Independent Panel and Take Relevant Measures to Ensure Compliance with Stock Trading Requirements
NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, today announced that on May 6, 2026, it received a notice (the “Notice”) from the staff (“Staff”) of The Nasdaq Stock Market (“Nasdaq”) , the contents of which were disclosed in the Company’s Form 8-K filed on May 11, 2026. The Company will request a hearing before an independent Hearings Panel (the “Panel”) by May 13, 2026, regardi
About this update from Allied Gaming & Entertainment Inc.
[{"type":"text","content":"NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Company” or “AGAE”), a global experiential entertainment company, today announced that on May 6, 2026, it received a notice (the “Notice”) from the staff (“Staff”) of The Nasdaq Stock Market (“Nasdaq”) , the contents of which were disclosed in the Company’s Form 8-K filed on May 11, 2026. The Company will request a hearing before an independent Hearings Panel (the “Panel”) by May 13, 2026, regarding the Staff’s determination, and the Company will take relevant measures, including a reverse stock split and other relevant measures to naturally raise the stock price back above $1.00, in order to maintain the Company’s listing status.","length":742,"tagName":"p"},{"type":"text","content":"A request for a hearing regarding a delinquent filing will stay the suspension of the Common Stock for a period of 15 days from the date of the request. During this period, the Common Stock will continue to be listed and traded on Nasdaq under the ticker symbol “AGAE.” The Company intends to also request an extended stay of the suspension, pending the hearing. A Panel will review the request for an extended stay and notify the Company of its conclusion as soon as is practicable. The hearing process provides the Company with an opportunity to present a comprehensive plan to restore compliance with all applicable listing standards.","length":637,"tagName":"p"},{"type":"text","content":"The Staff Determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A) on the grounds that the Company has not regained compliance with Nasdaq Listing Rule 5550(a)(2) and the Notice also indicated that the Company has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2025.","length":310,"tagName":"p"},{"type":"text","content":"James Li stated “that the foregoing reflects the requirements of The Nasdaq Stock Market, and that the Company’s management is confident and will take proactive measures to ensure that the Company regains compliance with Nasdaq’s stock price requirements in the near future.” Mr. Li further stated “that the Company is also taking relevant measures to eliminate relevant or potential risks that may affect the Company’s future development and strategic transformation.”","length":469,"tagName":"p"},{"type":"text"...