Intends to Cure the Deficiency and Return to Compliance with Nasdaq StandardVIENNA, Va., Oct.04, 2024 (GLOBE NEWSWIRE) -- Urgent.ly Inc.(Nasdaq: ULY) ("Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today that The Nasdaq Stock Market LLC ("Nasdaq”) notified Urgently (the "Notice”) that Urgently is not in compliance with Nasdaq’s Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement”) because the minimum bid price of Urgently’s common stock was below $1.00 per share for 30 consecutive business days.
The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of important risks and uncertainties, including without limitation the risk that the Company may not meet the Minimum Bid Price Requirement during any compliance period or in the future, the risk that the Company may not otherwise meet the requirements for continued listing under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, and the risk that the Company may not ultimately meet applicable Nasdaq requirements after such relief, if any, is granted, among other important risks and uncertainties.
If Urgently has not been deemed in compliance prior to the expiration of the Compliance Period, Urgently may be eligible for an additional 180-day compliance period (the "Second Compliance Period”), provided that it meets the applicable market value of publicly held shares requirement for continued listing and all other initial listing standards for The Nasdaq Capital Market (with the exception of the Minimum Bid Price Requirement), and would need to provide written notice of its intention to cure the bid price deficiency during the Second Compliance Period.
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