Business
Hydrofarm Holdings Group, Inc. Receives 180 Calendar Day Extension from the Nasdaq Stock Market to Regain Compliance with Bid Price Rule
SHOEMAKERSVILLE, Pa., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) (the "Company," or "Hydrofarm,"), a leading independent
About this update from Hydrofarm Holdings Group, Inc.
[{"type":"text","content":"SHOEMAKERSVILLE, Pa., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) (the \"Company,\" or \"Hydrofarm,\"), a leading independent manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, announced today that it has received a 180 calendar day extension, until March 10, 2025, from the Nasdaq Stock Market (\"Nasdaq\"), to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) (the \"Bid Price Rule\"). The Bid Price Rule stipulates that the bid price of the Company's common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days. The Company will continue to monitor its stock price and plans to pursue available options to regain compliance with the Bid Price Rule, including potentially pursuing a reverse stock split. This notification from Nasdaq has no immediate effect on the listing or trading of the Company’s shares, which currently trade on the Nasdaq Capital Market under the symbol “HYFM.” About Hydrofarm Holdings Group, Inc. Hydrofarm is a leading independent manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, including grow lights, climate control solutions, growing media and nutrients, as well as a broad portfolio of innovative and proprietary branded products. For over 40 years, Hydrofarm has helped growers make growing easier and more productive. The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects. Cautionary Note Regarding Forward-Looking Statements Statements contained in this press release, other than statements of historical fact, which address activities, events and developments that the Company expects or anticipates will or may occur in the future, including, but not limited to, information regarding the future economic performance and financial condition of the Company, the plans and objectives of the Company’s management, and the Company’s assumptions regarding such performance and plans are “forward-looking statements” within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrase...