Summary by Moomoo AI
Banzai International, Inc. has received a notice from the Nasdaq Listing Qualifications Department on August 6, 2024, indicating that the company is not in compliance with the Nasdaq's minimum Market Value of Listed Securities requirement of $50 million as per Nasdaq Listing Rule 5450(b)(2)(A). The company is at risk of being delisted from The Nasdaq Global Market unless it requests a hearing before The Nasdaq Hearings Panel. Banzai International plans to request such a hearing, which will stay the suspension of trading of the company's securities until the hearing process is completed and a decision is made. The outcome of the hearing is uncertain, and there is no guarantee that the company will be granted an extension or be able to regain compliance for continued listing.
