Minim Receives Nasdaq Notification

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GlobeNewswire 2d ago

Minim Receives Nasdaq Notification - GlobeNewswire

Quick Summary:

MANCHESTER, N.H., July 02, 2024 (GLOBE NEWSWIRE) -- Minim, Inc.(Nasdaq: MINM) announced today that it received a letter (the "Letter”) from the Listing Qualifications Department (the "Staff”) of The Nasdaq Stock Market LLC ("Nasdaq”) notifying the Company that the Staff had determined that the Company did not meet the terms of the minimum stockholders’ equity requirement of at least $2,500,000 for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(1) (the "Stockholders’ Equity Requirement”).

The Company announced today that, on June 28, 2024, it appealed the Staff Determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq”), to a Hearings Panel (the "Panel”) to delist the Company’s securities from The Nasdaq Capital Market because of the Company’s Stockholders’ Equity Requirement.

The Company intends to regain compliance with the Stockholders’ Equity Requirement through a direct equity investment and/or business combination prior to the hearing with the Panel.