Business
urban-gro, Inc. Receives Nasdaq Delisting Determination; Announces Comprehensive Review of Strategic Alternatives and Provides Corporate Update
LAFAYETTE, COLORADO / ACCESS Newswire / August 22, 2025 / urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and design-build firm, today announced that it received a determination letter (the "Determination") ...
About this update from Urban-gro, Inc.
[{"type":"text","content":"LAFAYETTE, COLORADO / ACCESS Newswire / August 22, 2025 / urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and design-build firm, today announced that it received a determination letter (the "Determination") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company's common stock is subject to delisting due to non-compliance with Nasdaq Listing Rules 5250(c)(1) and 5550(b)(1). The Determination follows the Company's inability to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and its Quarterly Reports on Form 10-Q for the periods ended March 31 and June 30, 2025, as well as its failure to maintain the minimum stockholders' equity of $2.5 million required under Listing Rule 5550(b)(1).","length":848,"tagName":"p"},{"type":"text","content":"Immediate Response and Appeal Process","length":37,"tagName":"p"},{"type":"text","content":"The Company plans to immediately appeal the Determination and request a hearing before the Nasdaq Hearings Panel. By filing this appeal request, the delisting determination will be stayed for 15 calendar days from the date the appeal is submitted. The Company also expects to request an additional stay pending the outcome of the hearing\. Until the hearing panel makes a determination regarding the stay request, the Company's common stock will continue to trade on Nasdaq.","length":482,"tagName":"p"},{"type":"text","content":"The Company is working aggressively to present a compelling case for continued listing. There can be no assurance that the Company will be able to regain compliance with Nasdaq Listing Rules 5250(c)(1) and/or 5550(b)(1), or will otherwise be in compliance with other applicable Nasdaq Listing Rules, that the request for the additional stay will be granted, or that the Company's appeal of the delisting determination will be successful.","length":441,"tagName":"p"},{"type":"text","content":"Comprehensive Turnaround Strategy in Motion","length":43,"tagName":"p"},{"type":"text","content":"Despite the challenges outlined in the Determination, urban-gro has implemented a comprehensive multi-pronged strategy designed to strengthen its financial position, restore regulatory compliance, and enhance long-term shareholder value:","l...