NextPlat Granted 180-Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Requirement
Rhea-AI Summary
NextPlat (NASDAQ: NXPL, NXPLW) received a 180-calendar-day extension from Nasdaq to regain compliance with the minimum bid price rule (Nasdaq Listing Rule 5550(a)(2).
The company now has until April 27, 2026 to have its common stock close at or above $1.00 per share for a minimum of ten consecutive business days. Nasdaq noted NextPlat otherwise meets continued listing criteria and confirmed the extension does not immediately affect the stock's listing status.
NextPlat said it may cure the deficiency through a reverse stock split or other actions, and warned that failure to regain compliance could lead to a delisting notice and a potential appeal to a Nasdaq Hearings Panel, with no assurance of a successful appeal.
Positive
- Nasdaq granted a 180-day extension to April 27, 2026
- Nasdaq confirmed NextPlat meets all other listing criteria
- Company has a clear remedy option: reverse stock split
Negative
- Shares must close ≥$1.00 for ten consecutive business days by April 27, 2026
- Failure to regain compliance could trigger a delisting notice
- Company acknowledged no assurance an appeal would succeed
News Market Reaction
On the day this news was published, NXPL gained 6.27%, reflecting a notable positive market reaction. Argus tracked a peak move of +80.5% during that session. Argus tracked a trough of -15.6% from its starting point during tracking. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $25M at that time. Trading volume was exceptionally heavy at 66.9x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Nasdaq's extension notice has no immediate effect on the continued listing status of the Company's common stock on The Nasdaq Capital Market LLC under the symbol "NXPL". If at any time during the additional 180-day extension, the bid price of the Company's common stock closes at, or above,
If the Company does not meet the minimum bid requirement during the additional 180-day extension, Nasdaq will provide written notification to the Company that its common stock will be subject to delisting. At such time, the Company may appeal the delisting determination to a Nasdaq Hearings Panel (the "Panel"). The Company would remain listed pending the Panel's decision. There can be no assurance that if the Company does appeal a subsequent delisting determination, that such appeal would be successful
NextPlat remains committed to full compliance with all Nasdaq listing requirements and will continue to monitor its share price closely. The Company plans to take all necessary actions within the prescribed period to regain compliance.
For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook, LinkedIn and X.
About NextPlat Corp
NextPlat is a global consumer products and services company providing healthcare and technology solutions through e-Commerce and retail channels worldwide. Through acquisitions, joint ventures, and collaborations, the Company seeks to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce capabilities for consumer and healthcare products and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
Media and Investor Contact for NextPlat Corp:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE NextPlat Corp.
FAQ
What extension did Nasdaq grant NextPlat (NXPL) and what is the new deadline?
What minimum bid price requirement must NextPlat (NXPL) meet to regain compliance?
How can NextPlat (NXPL) cure the Nasdaq minimum bid price deficiency?
Will the Nasdaq extension affect NextPlat (NXPL) trading status immediately?
What happens if NextPlat (NXPL) fails to meet the $1.00 bid requirement by April 27, 2026?
Does NextPlat (NXPL) meet other Nasdaq listing criteria during the extension?
