Waldencast regains compliance with Nasdaq filing requirements

Waldencast plc received formal notice from the Nasdaq Hearings Panel confirming that it has regained compliance with Nasdaq’s filing requirements, as set forth in Nasdaq Listing Rule 5250(c) following the filing of the company’s financial results for the interim period ended June 30, 2023 with the U.S. Securities and Exchange Commission. In line with the applicable Nasdaq Listing Rules in such circumstances, the notice also indicated that Nasdaq had imposed a “Mandatory Panel Monitor” as that term is defined in Nasdaq Listing Rule 5815(d)(4)(B), for a period of one year from the date of the compliance determination, pursuant to which in the event the company fails to timely satisfy the Periodic Filing Rule during the one-year monitor period, the company will not have the opportunity to provide a compliance plan for the Nasdaq Listing Qualifications Staff’s review; rather, Nasdaq would instead issue a delist determination pursuant to which the company could request a hearing and stay of the delist determination pending another hearing before the Panel.