XCEL BRANDS, INC. Receives NASDAQ notice regarding late Form 10-K filing
Rhea-AI Summary
Xcel Brands (NASDAQ: XELB) has received a delinquency notification from Nasdaq on April 29, 2025, for failing to file its 2024 Annual Report (Form 10-K) on time. The company is now non-compliant with Nasdaq Listing Rule 5250(c)(1). While this notice doesn't immediately affect XELB's listing status, the company must submit a compliance plan within 60 days. If Nasdaq accepts the plan, XELB could receive up to 180 days (until October 13, 2025) to regain compliance. The company intends to file its Form 10-K within the initial 60-day period to resolve the compliance issue.
Positive
- None.
Negative
- Company failed to file its 2024 Annual Report (Form 10-K) on time
- Non-compliance with Nasdaq listing requirements
- Risk of potential delisting if compliance is not achieved within the given timeframe
News Market Reaction
On the day this news was published, XELB declined 5.73%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, May 02, 2025 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), today announced that on April 29, 2025, it received a delinquency notification letter from the Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1), because it had not timely filed its Annual Report on Form 10-K for the year ended December 31, 2024 (the "Form 10-K"). The Nasdaq notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.
Nasdaq has informed the Company that it must submit a plan of compliance (the "Plan") within 60 calendar days, addressing how it intends to regain compliance with Nasdaq's listing rules and, if Nasdaq accepts the Plan, it may grant an extension of up to 180 calendar days from the Form 10-K original filing due date, or until October 13, 2025, to regain compliance. The Company intends to file its Form 10-K as soon as practicable and, in any event, within the 60-day period referenced above, and thereby regain compliance with the Nasdaq continued listing requirements and eliminate the need for the Company to submit a Plan.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the Tower Hill by Christie Brinkley co-branded collaboration, and holds noncontrolling interests in the Isaac Mizrahi brand and Orme Live. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of
For further information please contact:
Seth Burroughs
Marketing and Public Relations, Xcel Band, Inc..
347 532 5894
sburroughs@xcelbrands.com
FAQ
What is the deadline for XELB to submit its compliance plan to Nasdaq?
Will XELB stock be delisted from Nasdaq due to the late 10-K filing?
Why did Xcel Brands (XELB) receive a Nasdaq notification?
How does XELB plan to resolve the Nasdaq compliance issue?
