Banzai International (BNZI) has released an update to notify the public and investors about listing compliance status.
A company has been notified by Nasdaq that its security values do not meet the required minimum for continued listing, failing to comply with both the Minimum Value of Listed Securities and total assets and revenue criteria. However, this notice does not indicate immediate delisting. The company has until August 5, 2024, to rectify the situation and is considering options to address the issue. Failure to comply by the deadline could lead to delisting, although the company can appeal such a decision. There’s no guarantee that the company will meet Nasdaq’s standards despite efforts to do so.
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For a comprehensive understanding of the announcement, you can read the full document here.
