UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| The Stock Market LLC |
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Item 8.01 Other Events.
On August 19, 2024, Netcapital Inc., a Utah corporation (the “Company”) received a notice from The Nasdaq Stock Market, LLC (“Nasdaq”), dated August 19, 2024, informing the Company that it had regained compliance with Nasdaq’s Listing Rule 5550(a)(2) (the “Bid Price Rule”) for continued listing on The Nasdaq Capital Market, as the bid price of the Company’s common stock closed at or above $1.00 per share for a minimum of 10 consecutive business days since August 2, 2024.
As previously disclosed on a Current Report on Form 8-K filed by the Company, Nasdaq had previously notified the Company on September 1, 2023 that it was not in compliance with the Bid Price Rule because it failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. Further as of July 22, 2024, Nasdaq determined that that the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days and as a result, Nasdaq delivered written notice to the Company on July 23, 2024 under which it advised the Company that Nasdaq has determined to delist the Company’s securities from The Nasdaq Capital Market. The Company requested a hearing to appeal Nasdaq’s delisting determination, but since the Company regained compliance with Nasdaq’s continued listing requirements as described above, the hearing was cancelled.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Netcapital Inc. (Registrant) | ||
| By: | /s/ Martin Kay | |
| Name: | Martin Kay | |
| Title: | Chief Executive Officer | |
| Dated August 19, 2024 | ||
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