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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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 19, 2023, ENGlobal Corporation (the “Company”) issued a press release announcing that the Company has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Stock Market. A copy of this press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are included with this Current Report on Form 8-K:
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| Press Release, dated December 19, 2023 | |
Exhibit 104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
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 hereunto duly authorized.
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| ENGlobal Corporation |
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December 19, 2023 |
| /s/ Darren W. Spriggs |
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(Date) |
| Darren W. Spriggs, Chief Financial Officer, Treasurer and Corporate Secretary |
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EXHIBIT 99.1
ENGlobal Regains Compliance with Nasdaq Minimum Bid Price Requirement
HOUSTON, TX / ACCESSWIRE / December 19, 2023 / ENGlobal Corporation (“ENGlobal” or the “Company”) (Nasdaq: ENG), a provider of innovative engineering project solutions for the energy industry, today announced that the Company received notice from The Nasdaq Stock Market, LLC (“Nasdaq”), dated December 15, 2023, informing ENGlobal that it has regained compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq.
As previously disclosed, on December 21, 2022, Nasdaq notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Nasdaq listing rules. As previously disclosed on June 28, 2023, Nasdaq notified the Company that it had until December 18, 2023, to regain compliance by maintaining a minimum closing bid price of $1.00 or more for a minimum of 10 consecutive trading days. The Nasdaq notice states that Nasdaq has determined that for the 10 consecutive business days, from December 1, 2023 to December 14, 2023, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. Accordingly, Nasdaq has confirmed that the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.
About ENGlobal
ENGlobal Corporation is a provider of innovative engineering project solutions focused on the energy industry. ENGlobal operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction management and integration of automated control systems. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry. Further information about the Company and its businesses is available at www.englobal.com.
For further information, please email IR@englobal.com.
Cautionary Note Regarding Forward Looking Statements
The statements above regarding the Company's expectations, including those relating to its future results, its future operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties. For a discussion of risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENGlobal's filings with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.
Cover |
Dec. 15, 2023 |
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Cover [Abstract] | |
Entity Registrant Name | ENGlobal Corporation |
Entity Central Index Key | 0000933738 |
Document Type | 8-K |
Amendment Flag | false |
Entity Emerging Growth Company | false |
Document Period End Date | Dec. 15, 2023 |
Entity File Number | 001-14217 |
Entity Incorporation State Country Code | NV |
Entity Tax Identification Number | 88-0322261 |
Entity Address Address Line 1 | 11740 Katy Fwy – Energy Tower III |
Entity Address Address Line 2 | 11th floor |
Entity Address City Or Town | Houston |
Entity Address State Or Province | TX |
Entity Address Postal Zip Code | 77079 |
City Area Code | 281 |
Local Phone Number | 878-1000 |
Security 12b Title | Common Stock, $0.001 par value |
Trading Symbol | ENG |
Security Exchange Name | NASDAQ |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
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