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Collective Audience to Transition to OTC Markets Following Delisting from Nasdaq Global Market

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Collective Audience (Nasdaq:CAUD) announced its common stock will be suspended from trading on the Nasdaq Global Market effective August 16, 2024, following a delisting decision by the Nasdaq Hearings Panel. The company plans to transition to OTC Markets' Pink Open Market while pursuing a reconsideration request and potential appeal. Collective Audience has a pending application for the OTCQB Market, for which it believes it qualifies.

Despite meeting most continued listing requirements and completing two acquisitions, Nasdaq denied the company's application to transfer to the Nasdaq Capital Market. Collective Audience expects to generate positive EBITDA in 2024, with pro forma revenues exceeding $7.5 million. The company remains current with SEC reporting and is evaluating options, including appeals and applications to other national exchanges.

Collective Audience (Nasdaq:CAUD) ha annunciato che le sue azioni ordinarie saranno sospese dalla negoziazione sul Nasdaq Global Market a partire dal 16 agosto 2024, in seguito a una decisione di delisting da parte del Nasdaq Hearings Panel. L'azienda prevede di passare al Pink Open Market di OTC Markets mentre richiede una revisione della decisione e un possibile appello. Collective Audience ha un'applicazione in sospeso per il Mercato OTCQB, per il quale ritiene di avere i requisiti necessari.

Nonostante soddisfi la maggior parte dei requisiti di mantenimento della quotazione e abbia completato due acquisizioni, il Nasdaq ha negato la richiesta dell'azienda di trasferirsi al Nasdaq Capital Market. Collective Audience si aspetta di generare un EBITDA positivo nel 2024, con ricavi pro forma superiori a $7,5 milioni. L'azienda rimane attuale con i report SEC e sta valutando opzioni, inclusi appelli e richieste ad altre borse nazionali.

Collective Audience (Nasdaq:CAUD) anunció que sus acciones comunes serán suspendidas de negociación en el Nasdaq Global Market a partir del 16 de agosto de 2024, tras una decisión de deslistado del Panel de Audiencias de Nasdaq. La compañía planea transitar hacia el Pink Open Market de OTC Markets mientras solicita una reconsideración y un posible recurso. Collective Audience tiene una solicitud pendiente para el Mercado OTCQB, para el cual cree que califica.

A pesar de cumplir con la mayoría de los requisitos de listado continuo y de haber completado dos adquisiciones, Nasdaq negó la solicitud de la compañía para trasladarse al Nasdaq Capital Market. Collective Audience espera generar un EBITDA positivo en 2024, con ingresos pro forma que superen los $7.5 millones. La empresa se mantiene al día con los informes de la SEC y está evaluando opciones, incluidas apelaciones y solicitudes a otras bolsas nacionales.

Collective Audience (Nasdaq:CAUD)는 나스닥 청문위원회의 상장 폐지 결정에 따라 2024년 8월 16일부터 나스닥 글로벌 마켓에서 거래가 중단될 것이라고 발표했습니다. 이 회사는 OTC 마켓의 핑크 오픈 마켓으로 전환할 계획이며, 재고 요청 및 잠재적 항소를 진행 중입니다. Collective Audience는 OTCQB 마켓에 대한 신청이 보류 중이며, 자격이 있다고 믿고 있습니다.

대부분의 계속 상장 요구 사항을 충족하고 두 건의 인수를 완료했음에도 불구하고, 나스닥은 나스닥 자본 시장으로의 이전 신청을 거부했습니다. Collective Audience는 2024년에 긍정적인 EBITDA를 생성할 것으로 예상하며, 프로포마 매출이 750만 달러를 초과할 것으로 보입니다. 이 회사는 SEC 보고서가 최신 상태이며, 항소 및 기타 국가 거래소에 대한 신청을 포함한 선택지를 평가하고 있습니다.

Collective Audience (Nasdaq:CAUD) a annoncé que ses actions ordinaires seront suspendues de négociation sur le Nasdaq Global Market à compter du 16 août 2024, suite à une décision de radiation du Nasdaq Hearings Panel. L'entreprise prévoit de passer au Pink Open Market d'OTC Markets tout en poursuivant une demande de réexamen et un éventuel appel. Collective Audience a une demande en attente pour le Marché OTCQB, pour lequel elle est convaincue de répondre aux critères d'éligibilité.

Bien qu'elle respecte la plupart des critères de maintien de la cotation et ait achevé deux acquisitions, le Nasdaq a refusé la demande de l'entreprise de transfert vers le Nasdaq Capital Market. Collective Audience s'attend à générer un EBITDA positif en 2024, avec des revenus pro forma dépassant 7,5 millions de dollars. L'entreprise reste à jour avec les rapports de la SEC et évalue les options, y compris les appels et les demandes auprès d'autres bourses nationales.

Collective Audience (Nasdaq:CAUD) gab bekannt, dass die Stammaktien am Nasdaq Global Market ab dem 16. August 2024 vom Handel ausgesetzt werden, nach einer Delisting-Entscheidung des Nasdaq Hearings Panel. Das Unternehmen plant, zum Pink Open Market von OTC Markets zu wechseln, während es eine Überprüfungsanfrage und möglicherweise einen Einspruch einlegt. Collective Audience hat einen laufenden Antrag für den OTCQB-Markt, für den es glaubt, qualifiziert zu sein.

Trotz der Erfüllung der meisten fortlaufenden Listungsanforderungen und des Abschlusses von zwei Akquisitionen hat Nasdaq den Antrag des Unternehmens auf Übertragung an den Nasdaq Capital Market abgelehnt. Collective Audience erwartet, 2024 ein positives EBITDA zu erzielen, mit einem pro forma Umsatz von über 7,5 Millionen Dollar. Das Unternehmen ist aktuell mit den SEC-Berichten und evaluiert Optionen, einschließlich Einsprüchen und Anträgen bei anderen nationalen Börsen.

Positive
  • Expects to generate positive EBITDA in 2024
  • Pro forma annual revenues projected to exceed $7.5 million
  • Current with SEC reporting requirements
  • Completed two transformative acquisitions
  • Pending application for OTCQB Market listing
Negative
  • Delisted from Nasdaq Global Market
  • Denied grace period or extension for Nasdaq Capital Market transition
  • Stock suspended from Nasdaq trading effective August 16, 2024
  • Temporary transition to OTC Markets' Pink Open Market
  • Potential loss of investor confidence due to delisting

Insights

The delisting of Collective Audience from Nasdaq is a significant setback for the company. Transitioning to OTC Markets typically results in reduced liquidity and lower investor confidence. This move may limit institutional investment and make it harder to raise capital. However, the company's reported pro forma positive EBITDA and $7.5 million expected revenue for 2024 show potential financial stability. The recent acquisitions, including BeOp, could drive growth. Investors should monitor the company's appeal process and its ability to maintain financial performance on the OTC market. The immediate impact is likely negative, but long-term prospects depend on execution and potential relisting efforts.

Nasdaq's decision to delist Collective Audience without granting a traditional grace period is unusual and potentially contestable. The company's compliance with SEC reporting requirements and meeting most Nasdaq Capital Market criteria, except for minimum bid price, could form the basis for a strong appeal. The 15-day window for appeal is critical. If successful, it could lead to reinstatement on Nasdaq. However, the appeal process can be lengthy and uncertain. The company's move to OTC Markets ensures continuous trading but may impact investor rights and protections. Shareholders should closely follow any legal developments and potential regulatory filings related to the appeal process.

The delisting from Nasdaq could significantly impact Collective Audience's market perception and valuation. OTC Markets typically see lower trading volumes and reduced analyst coverage, potentially affecting stock price and volatility. However, the company's focus on audience-based performance advertising and media, along with its recent acquisitions, positions it in a growing digital advertising market. The expected $7.5 million revenue and positive EBITDA for 2024 suggest operational strength. Investors should watch for market reaction to the OTC transition, any changes in institutional ownership and the company's ability to maintain growth and profitability in this new trading environment. The short-term outlook is challenging, but long-term potential remains if the company executes its strategy effectively.

Company Received Notice of Delisting Yesterday from Nasdaq without Traditionally Granted Grace Period as it Pursues Potential Appeal to Continue Trading on Nasdaq

NEW YORK, NY / ACCESSWIRE / August 15, 2024 / Collective Audience, Inc. (Nasdaq:CAUD), a leading innovator of audience-based performance advertising and media, announced its common stock will be suspended from trading on the Nasdaq Global Market effective upon the open of trading on Friday, August 16, 2024 following a Nasdaq Hearings Panel determination to delist the company's shares.

The company is currently arranging for its stock to begin trading temporarily on the OTC Markets' Pink Open Market at the opening of the markets on Friday, August 16, 2024, while it pursues a request for reconsideration and contemplates filing an appeal to the Nasdaq Listing and Hearing Review Council. The company already has a pending application with OTC Markets to list on the OTC Markets' OTCQB Market for which the company believes it fully qualifies.

Despite the company's successful execution of its compliance plan, including being current in its SEC reporting, the recent timely filing of its Form 10-Q for the three months ended June 30, 2024, and the completion of two previously announced acquisitions, the Nasdaq appeal panel decided to deny any grace period or extension to allow the company to transition to the Nasdaq Capital Market, citing the immediate drop in market trading price at the deSPAC back in November 2023 as the deciding factor in their decision.

The company's application to transfer to the Nasdaq Capital Market, where it currently meets continued listing requirements, except for minimum bid price compliance (which it had until October 2024 to resolve), was also denied. The company is currently evaluating its plan to potentially appeal the decision in the 15 days allotted by Nasdaq for such an appeal.

Collective Audience is current with its SEC reporting requirements and recently completed two transformative acquisitions. Following these acquisitions, the company reported that it expects to generate on a pro forma basis positive EBITDA in 2024, with annual pro forma revenues on track to exceed $7.5 million.

"We strongly disagree with the Nasdaq Hearings Panel's decision, which disregards our recent achievements and compliance efforts, and as the company stands today being compliant versus being compliant based on November of last year," stated Collective Audience CEO, Peter Bordes. "It is unfortunate that despite our full compliance and the significant progress we've made, including our recent acquisition of BeOp, a leading conversational media platform, Nasdaq has chosen not to grant us the opportunity to continue trading based on volatile market conditions post-deSPAC back in November 2023. We are confident in our long-term strategy and remain focused on delivering value to our shareholders."

As Collective Audience pursues its listing options, including a potential appeal and/or applications to other national exchanges, it remains committed to its mission of empowering brands, agencies, and publishers with advanced tools and data-driven applications that drive performance and efficiency.

Additional details on the delisting will be made available in a Form 8-K filed by Collective Audience on www.sec.gov.

About Collective Audience
Collective Audience is [re]imagining digital advertising for the Open Web. Its innovative AudienceCloud is one of the leading audience-based advertising and media cloud infrastructure platforms for brands, agencies and publishers on the Open Web. Its modular suite of data driven applications eliminates many inefficiencies from the traditional digital ad buyer and seller supply path, and the process for brands, agencies and publishers. It empowers partners with all the advanced tools and audience data they need on a single cloud platform, and drives focus on increased performance metrics, brand reach, traffic and transactions.

For the AdTech providers and media buyers who come onto Collective Audience's platform, they will be able to leverage audience data as a new asset class, powered by AI as an intelligence layer to guide decision making.

To learn more, visit collectiveaudience.co.

Important Cautions Regarding Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding the company's future financial performance, as well as the company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Collective Audience and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Collective Audience. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; unanticipated conditions that could adversely affect the company; the overall level of consumer demand for Collective Audience's or BeOp's products/services; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of Collective Audience's and BeOp's customers; Collective Audience's and BeOp's ability to implement their business strategy; the ability to successfully integrate BeOp into Collective Audience's operations; changes in governmental regulation, Collective Audience's exposure to litigation claims and other loss contingencies; disruptions and other impacts to Collective Audience's business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; Collective Audience's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Collective Audience's information systems; changes in tax laws and liabilities, legal, regulatory, political and economic risks. More information on potential factors that could affect Collective Audience's financial results is included from time to time in Collective Audience's public reports filed with the SEC. If any of these risks materialize or Collective Audience's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Collective Audience presently knows, or that Collective Audience currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Collective Audience's expectations, plans or forecasts of future events and views as of the date of this press release. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Collective Audience anticipates that subsequent events and developments will cause their assessments to change. However, while Collective Audience may elect to update these forward-looking statements at some point in the future, Collective Audience specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Collective Audience's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Collective Audience Contact:
Peter Bordes, CEO
Collective Audience, Inc.
Email contact

Investor & Media Contact:
Ron Both
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact

SOURCE: Collective Audience



View the original press release on accesswire.com

FAQ

Why is Collective Audience (CAUD) being delisted from Nasdaq?

Collective Audience is being delisted due to the Nasdaq Hearings Panel's decision, citing the immediate drop in market trading price at the deSPAC in November 2023 as the deciding factor, despite the company's compliance efforts and recent achievements.

When will Collective Audience (CAUD) stock be suspended from Nasdaq trading?

Collective Audience stock will be suspended from trading on the Nasdaq Global Market effective upon the open of trading on Friday, August 16, 2024.

Where will Collective Audience (CAUD) stock trade after Nasdaq delisting?

Collective Audience stock is expected to begin trading temporarily on the OTC Markets' Pink Open Market on August 16, 2024, while the company pursues other listing options.

What are Collective Audience's (CAUD) financial projections for 2024?

Collective Audience expects to generate positive EBITDA in 2024, with annual pro forma revenues projected to exceed $7.5 million.

Is Collective Audience (CAUD) appealing the Nasdaq delisting decision?

Collective Audience is evaluating its options, including potentially filing an appeal to the Nasdaq Listing and Hearing Review Council within the 15-day allotted period.

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