Chicken Soup for the Soul receives delinquency letter from Nasdaq

Chicken Soup for the Soul Entertainment announced that on April 18, 2024, the company received a letter from The Nasdaq Stock Market informing the company that its securities may be delisted from the Nasdaq Capital Market due to the fact the company’s Annual Report on Form 10-K for fiscal year ended December 31, 2023 had not been filed yet. Under Nasdaq rules, a company that receives a delist determination for such a delinquency can request an appeal to a Nasdaq hearings panel pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A request for a hearing regarding a delinquent filing will stay the suspension of the company’s securities only for a period of 15 days from the date of the request. The company has until April 25, 2024, to request a stay of the suspension, pending a Hearings Panel decision. The company intends to request a stay of the suspension. Additionally, the company has remedied its noncompliance with respect to the delinquency by filing its 2023 Annual Report on Form 10-K on April 19, 2024. Additionally, the company is currently undertaking efforts to remedy its noncompliance with other Nasdaq rules as discussed in Current Reports on Form 8-K and has an appeals hearing scheduled May 21, 2024 to address its future compliance.