Tag: Listing Qualifications Department

Earlier this week, Urban One Inc. received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying it that, for the last 30 consecutive business days, the bid price for the Company’s Class D common stock had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Capital Market. Urban One has 180 calendar days, or until August 11, 2025, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company’s Class D Common Stock must be at least $1.00 per share for a minimum of ten (10) consecutive business days. The company says it intends to actively monitor the closing bid price of its Class D Common Stock and will consider all reasonable available options to regain compliance with the Minimum Bid Price Requirement, which may include seeking stockholder approval to effect a reverse stock split. There can be no assurance that the company will regain compliance with the Minimum Bid Price Requirement during the 180-day compliance period, maintain compliance with the other Nasdaq listing requirements or be successful in appealing any delisting determination. The Notice also has no impact on the Company’s Class A Common Stock which trades under the symbol “UONE.”