Upland Software gets Nasdaq $15M value warning
Rhea-AI Filing Summary
Upland Software, Inc. reported that Nasdaq notified the company on July 31, 2026 that it no longer meets the $15 million minimum market value of publicly held shares requirement under Nasdaq Listing Rule 5450(b)(2&3)(C), based on the prior 30 consecutive business days. This is a notice of deficiency, not a delisting, and the common stock continues to trade on the Nasdaq Global Market under the symbol UPLD.
The company has 180 days, until January 27, 2027, to regain compliance. Compliance would be restored if the market value of publicly held shares closes at $15 million or more for at least ten consecutive business days, generally no more than twenty. If compliance is not regained by the deadline, the stock will be subject to delisting, and the company could appeal to a Nasdaq Hearings Panel, though there is no assurance an appeal or any remediation plans will succeed.
Positive
- None.
Negative
- Nasdaq issued a deficiency notice for failing to meet the $15 million public-float requirement, putting the Nasdaq Global Market listing at risk if not cured.
8-K Event Classification
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
1 item
Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Securities
The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.
Key Figures
MVPHS Requirement: $15 million
Review period: 30 consecutive business days
Compliance period: 180 days
+3 more
6 metrics
MVPHS Requirement
$15 million
Minimum market value of publicly held shares under Nasdaq Listing Rule 5450(b)(2&3)(C)
Review period
30 consecutive business days
Period Nasdaq reviewed Upland’s market value of publicly held shares before issuing the deficiency notice
Compliance period
180 days
Time given to regain compliance before the Compliance Date of January 27, 2027
Compliance Date
January 27, 2027
Deadline to meet the MVPHS Requirement before the stock becomes subject to delisting
Recompliance minimum window
ten consecutive business days
Minimum period MVPHS must close at or above $15 million to regain compliance
Typical maximum observation period
20 consecutive business days
General upper bound Nasdaq may use when confirming sustained MVPHS compliance
Key Terms
market value of publicly held shares, Nasdaq Listing Rule 5450(b)(2&3)(C), Nasdaq Global Market, notice of deficiency, +1 more
5 terms
Nasdaq Listing Rule 5450(b)(2&3)(C) regulatory
"requirement under Nasdaq Listing Rule 5450(b)(2&3)(C) (the “MVPHS Requirement”)"
Nasdaq Global Market market
"listing or trading of the Company’s common stock on the Nasdaq Global Market"
The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.
notice of deficiency regulatory
"The Nasdaq deficiency letter is a notice of deficiency, not delisting"
A notice of deficiency is a formal written communication from a tax or regulatory authority saying it believes an entity owes additional tax, penalties, or other adjustments and setting out the proposed changes and the timeframe to respond or challenge. Think of it like an itemized bill or accusation that the company can dispute through administrative or court procedures. Investors watch these notices because they can indicate potential cash outflows, contingent liabilities, or unresolved disputes that may affect earnings and balance-sheet strength.
Nasdaq Hearings Panel regulatory
"the Company may appeal the delisting determination to a Nasdaq Hearings Panel"
A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Upland Software (UPLD) disclose about its Nasdaq listing status?
Upland Software disclosed it received a Nasdaq deficiency notice for not meeting the $15 million minimum market value of publicly held shares over 30 consecutive business days. This notice currently does not remove its Nasdaq Global Market listing.
Is Upland Software (UPLD) still trading on the Nasdaq Global Market?
Yes. The Nasdaq letter is a notice of deficiency, not a delisting action, and Upland Software’s common stock continues to trade on the Nasdaq Global Market under the symbol UPLD while it works to regain compliance.
What must Upland Software (UPLD) do to regain Nasdaq compliance?
To regain compliance, Upland Software’s market value of publicly held shares must close at $15 million or more for at least ten consecutive business days, generally not more than twenty, before Nasdaq will confirm that the listing requirement has been satisfied again.
What is the deadline for Upland Software (UPLD) to fix the Nasdaq deficiency?
Upland Software has 180 days, until January 27, 2027, to regain compliance with Nasdaq’s $15 million market value of publicly held shares requirement. After that Compliance Date, its common stock would become subject to potential delisting if compliance is not restored.
What happens if Upland Software (UPLD) cannot regain Nasdaq compliance by January 27, 2027?
If Upland Software does not regain compliance by January 27, 2027, Nasdaq will notify the company that its common stock is subject to delisting. The company may then appeal to a Nasdaq Hearings Panel, but there is no assurance an appeal would succeed.
How does Upland Software (UPLD) plan to respond to the Nasdaq notice?
Upland Software states it intends to actively monitor the market value of its publicly held shares and consider plans to regain compliance with Nasdaq’s requirement. It notes there is no assurance it will successfully regain compliance within the available period.
AI-generated analysis. How Rhea-AI works. Not financial advice.
