UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed in its Current Reports on Form 8-K dated June 10, 2024 and December 3, 2024, Qurate Retail, Inc. (the “Company”) received written notice from the Nasdaq Stock Market (“Nasdaq”) on June 10, 2024 notifying the Company of its non-compliance with the minimum bid price requirement for continued listing of the Company’s Series A common stock (“QRTEA”) on the Nasdaq Global Select Market (the “Minimum Bid Price Requirement”). The Company thereafter had 180 calendar days to regain compliance with the Minimum Bid Price Requirement or to transfer to the Nasdaq Capital Market and request an additional 180-day extension to comply with the Minimum Bid Price Requirement. Effective the opening of business on December 2, 2024, QRTEA, the Company’s Series B common stock, and the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock (collectively, the “Securities”) were transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market.
On December 10, 2024, Nasdaq granted the Company an additional 180-day extension, or until June 9, 2025 (the “New Compliance Date”) to comply with the Minimum Bid Price Requirement. If, at any time before the New Compliance Date, the bid price of QRTEA is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance to the Company and this matter will be closed with respect to the Minimum Bid Price Requirement.
The Company will continue to actively monitor the closing bid price of QRTEA and will evaluate available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. The Company has confirmed to Nasdaq that, if necessary to regain compliance with the Minium Bid Price Requirement prior to the New Compliance Date, the Company will effect a reverse stock split.
Notwithstanding the foregoing, however, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement with respect to QRTEA or will otherwise be in compliance with other applicable Nasdaq listing criteria, or that the Company will be able to successfully implement a reverse stock split if it decides to pursue one.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 10, 2024
QURATE RETAIL, INC. | ||
By: | /s/ Katherine C. Jewell | |
Name: Katherine C. Jewell | ||
Title: Vice President and Secretary | ||
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