Stran & Company receives delisting determination from Nasdaq

Stran & Company announced that it received a letter from Nasdaq, issuing a staff delisting determination. The staff determination noted that the staff had notified the company on June 21, August 23 and November 21 that the company did not comply with Nasdaq Listing Rule 5250 because the company had not filed its quarterly reports on Form 10-Q for the periods ended March 31, June 30 and September 30 with the SEC. The staff determination noted that, based on the staff’s review and the materials submitted on August 20, the staff granted the company an exception until December 16 to regain compliance with the filing rule. The staff determination stated that the company had not met the terms of the exception. Specifically, the company has not filed the Forms 10-Q as required by the filing rule. The staff determination has no immediate effect and will not immediately result in the suspension of trading or delisting of the company’s common stock.