Business
Moolec Received Nasdaq Staff Determination Letter
LUXEMBOURG, LU / ACCESS Newswire / March 17, 2025 / Moolec Science SA (NASDAQ:MLEC), a public limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 17, Boulevard F.W. Raiffeisen, ...
About this update from Moolec Science Sa
[{"type":"text","content":"LUXEMBOURG, LU / ACCESS Newswire / March 17, 2025 / Moolec Science SA (NASDAQ:MLEC), a public limited liability company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 17, Boulevard F.W. Raiffeisen, L-2411 Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés de Luxembourg) under registration number B268440 ("Moolec," the "Company," "we," "us" or "our") received a letter on March 11, 2025 (the "Determination Letter"), from the staff of the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, as the closing bid price of its listed securities has remained at less than $1.00 per share over 30 consecutive business days as of September 10, 2024, and has not increased to $1.00 for more than 10 consecutive business days thereafter, the Company has not regained compliance with Nasdaq Listing Rule 5550(a)(2). Additionally, the Company is not eligible for a second 180-day compliance period, as it does not comply with the $5,000,000 minimum stockholders' equity initial listing requirement for The Nasdaq Capital Market. Unless the Company requests an appeal of this determination and requests a hearing before a Hearings Panel ("Hearings Panel") by March 18, 2025, the Company's ordinary shares and warrants will be scheduled for delisting from The Nasdaq Global Market at the opening of business on March 20, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing on The Nasdaq Stock Market and registration under the Securities Exchange Act of 1934. The Determination Letter has no immediate effect on the listing of the Company's ordinary shares and warrants on The Nasdaq Capital Market.","length":2022,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1081,"height":1081,"url":"https://media.zenfs.com/en/accesswire.ca/2b6b9bbb2bc9abff242aa29a76506559"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Sn81RWb...