S&W Seed receives non-compliance notice from Nasdaq

S&W Seed received a notice from Nasdaq advising the company that its failure to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 with the SEC is in contravention of Nasdaq Listing Rule 5250(c)and could serve as an additional deficiency and basis for the delisting of the company’s securities from Nasdaq. The Company has 60 days from the date of the notice to submit a plan to regain compliance with the Filing Requirement for consideration by Nasdaq. The company intends to timely submit a plan, including, but not limited to, a timeline in which the Form 10-K will be filed. The Nasdaq Notice has no immediate effect on the listing of the company’s common stock on the Nasdaq Capital Market. The company implemented a reverse stock split of its common stock at a ratio of 1-for-19 shares effective for marketplace purposes with the open of business on Friday, October 18. The company is subject to a separate review by Nasdaq to determine if the company is able to regain compliance with Nasdaq’s $1.00 bid price requirement by November 11.