Beasley Gets Delisting Warning from Nasdaq
On Monday (4/13), Beasley Broadcast Group received written notice from Nasdaq advising the company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. The rule requires companies listed on Nasdaq maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. At the end of 2025, Beasley reported a stockholders’ deficit of
$49,330,431 – below the stockholders’ equity requirement for continued listing. Beasley now has until May 28, 2026, unless otherwise directed by Nasdaq staff, to submit a plan to Nasdaq outlining how the company intends to regain compliance with Nasdaq’s continued listing standards. If Nasdaq accepts the plan, it may grant Beasley until October 10 to come into compliance. Beasley says it plans to timely submit its compliance plan to Nasdaq but notes that there’s no assurance Nasdaq will accept the or that if it does, Beasley will be able to regain compliance within the period provided.
outstanding Class A and Class D Common Stock, at a ratio within a range between one-for-two and one-for-30, subject to and as determined by a committee appointed by the Board of Directors. This comes as the company faces an August 11 deadline for its Nasdaq-traded stock to close at a price above $1 for 10 consecutive sessions, or risk delisting. If that fails, the company could apply for a 180-day grace period but it’s more likely the board goes ahead with the stock split.
requires companies to maintain stockholders’ equity of at least $10 million or meet the alternative compliance standards relating to the market value of the listed securities or the company’s total assets and revenue. Now, Cumulus has until April 21 to provide NASDAQ with a plan to achieve and sustain compliance. If NASDAQ accepts the plan, NASDAQ may grant an extension of up to 180 calendar days to evidence compliance. Cumulus says it is continuing to evaluate potential options to resolve the deficiency and regain compliance, including the possibility of applying to transfer to the NASDAQ Capital Market.
the fiscal year ended December 31, 2023, with the Securities and Exchange Commission. Urban One now has 60 calendar days, or until June 7, 2024, to submit a plan to regain compliance. If Nasdaq accepts the compliance plan, the Nasdaq staff may grant the company an exception of up to 180 calendar days from the filing’s due date, or until September 11, 2024, to regain compliance. Urban One says it is working diligently and expects to file its 2023 Form 10-K within the 60-day period, which would eliminate the need for it to submit a formal plan to regain compliance.
another 180-calendar day compliance period if it moves its stock to the Nasdaq Capital Market and satisfies other certain requirements. Beasley is the fourth audio company to face delisting this year. Audacy received notice from the New York Stock Exchange and in June engineered a 1-for-30 reverse stock split. Its stock closed at 35 cents per share on Monday (10/16). Salem Media Group received a delisting notice from Nasdaq in June giving it 180 days to rise above the $1 threshold. It closed at 68 cents per share on Monday (10/16). Urban One also received a delisting notice from Nasdaq but not for its share price. That company is late with quarterly reports due to independent accounting issues. 
financial reports with the Securities and Exchange Commission. Urban One says it intends to timely request a hearing before a Nasdaq Hearings Panel and that request will automatically stay any suspension or delisting action through October 20, 2023. The company will request that the stay be extended through the hearing and the expiration of any additional extension period granted by the Hearings Panel through March 26, 2023. There’s no assurance that the Hearings Panel will grant the additional extension or that Urban One will be able to regain compliance by the end of any additional extension period. The company is late with its quarterly financial reports for the first and second quarters of 2023. As previously reported, this comes as the result of the company dismissing its previous independent registered public accounting firm BDO USA, LLP and hiring Ernst & Young LLP.
compliance with the Nasdaq Listing Rule, the Company’s common stock will be subject to delisting. Under the Nasdaq rules, the company has 60 calendar days to file the 2022 Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the 2022 Form 10-K to regain compliance. If Nasdaq does not accept the company’s plan, then Urban One will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The company says it is working diligently and expects to file its 2022 Form 10-K within the 60-day period. Previously, Urban One notified the SEC that it had identified material weaknesses in its internal control over financial reporting and as a result, expected some of its internal controls over financial reporting and disclosure controls would be ineffective as of December 31, 2022. The Annual Report on Form 10-K for 2022 will describe these material weaknesses, and the company is implementing plans to remediate them.”
price requirement set forth in Nasdaq Listing Rule 5550(a)(2). The notice indicated that it is a result of the closing bid price of the company’s common stock having been at least $1.00 per share for a minimum required number of consecutive business days. Separately, today (4/7) is the date that LiveOne has set for spinning out PodcastOne as its own publicly traded company.