Verb Technology granted 180-day extension from Nasdaq to regain compliance

Verb Technology announces that Nasdaq Capital Market has granted the Company an additional 180-day period – until October 28, 2024 – to regain compliance with the $1.00 minimum closing bid price requirement. In determining whether to grant the Company an extension to regain compliance with the Bid Price Rule for continued listing on the Nasdaq Capital Market, Nasdaq concluded, among other things that the Company met all of the continued listing requirements and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the sole exception of the minimum bid price requirement. That conclusion was based, in part, on the Company’s compliance with the $2.5 million minimum shareholder value requirement, a deficiency the Company cured earlier this year when it announced via Form 8-K dated April 25, 2024, that its shareholder value as reflected on its March 31, 2024 balance was approximately $14 million.