Summary by Moomoo AI
On September 16, 2024, Kaival Brands Innovations Group, Inc., trading under the symbol KAVL on The Nasdaq Stock Market, received a notification from Nasdaq regarding non-compliance with the minimum closing bid price rule. The company's common stock had closed below the required $1.00 per share for 30 consecutive business days. Despite this, the common stock will continue to be listed on The Nasdaq Capital Market. Kaival Brands has been granted a 180-day period, until March 17, 2025, to meet the minimum bid price requirement. If the company's stock closes at $1.00 or higher for at least 10 consecutive trading days before this deadline, it will regain compliance. Failing to comply within the initial period may result in an additional 180 days to demonstrate compliance, provided the company meets other listing standards and potentially considers a reverse stock split. Non-compliance after this extension could lead to delisting from Nasdaq.
