BranchOut Food Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On August 12, 2024, BranchOut Food Inc. (the “Company”) received a letter from The Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the Company’s common stock was below $1.00 per share for 30 consecutive business days. The notice has no immediate impact on the Company’s listing.
Pursuant to Nasdaq’s Listing Rules, the Company has a 180 day grace period, until February 10, 2025, during which the Company may regain compliance if the bid price of its common stock closes at $1.00 per share or more for a minimum of ten consecutive business days. The Company may be eligible for an additional 180-day grace period if the Company meets Nasdaq’s initial listing standards (other than with respect to minimum bid price) for The Nasdaq Capital Market.
The Company intends to actively monitor the bid price for its common stock between now and February 10, 2025, and will consider available options to regain compliance with the Nasdaq minimum bid price requirements.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BranchOut Food Inc. | |||
| Date: August 16, 2024 | By: | /s/ Eric Healy | |
| Eric Healy, Chief Executive Officer | |||
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