Saturday, May 31, 2025

Latest

Sundial Growers Drops Two Tiers At Nasdaq To Avoid Near Term Reverse Split

Sundial Growers (NASDAQ: SNDL) appears to be doing all that it can to avoid being delisted from the Nasdaq while attempting to skip out on conducting a reverse split. The company this morning announced that it is effectively downgrading its listing by two tiers within the Nasdaq to enable an extended compliance period.

The move will see Sundial fall from the top tier Nasdaq Global Select Market to that of the Nasdaq Capital Market, which is the lowest of three listing tiers offered by the exchange. The move will provide the company with an additional 180 calendar day compliance period, a move that will provide additional time for the company to regain compliance with the exchanges minimum bid price requirement.

The company will now have until June 26, 2021 to regain compliance with this minimum bid standard, whereas the company previously had until December 28, 2020. As per the company, it must maintain a bid price above US$1.00 for a minimum of ten days before this date.

Sundial’s move to the the Nasdaq Capital Market is expected to occur as of December 15, 2020. If the company fails to regain compliance in the now extended period, it has signaled that it will implement available options to regain compliance, including a potential reverse stock split.

Sundial Growers last traded at $0.47 on the Nasdaq.


Information for this briefing was found via Sedar and Sundial Growers. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Jushi Holdings Sees Sundial Growers Joint Venture Provide US$100 Million Credit Facility

Jushi Holdings (CSE: JUSH) is the latest multi state cannabis operator to get further funding...

Thursday, October 21, 2021, 08:36:11 AM

Sundial Growers Considers Reverse Split To Meet Nasdaq Listing Requirements

Sundial Growers (NASDAQ: SNDL) has seemingly bought more time with the compliance department at the...

Wednesday, February 9, 2022, 07:29:00 AM

Sundial Growers Forms Investment Joint Venture, Commits Initial $100 Million To Project

Sundial Growers (NASDAQ: SNDL) this morning announced that it has entered into a joint venture...

Monday, March 15, 2021, 08:09:01 AM

Sundial Growers Announces Financing For US$100 Million

Sundial Growers (NASDAQ: SNDL) is capitalizing heavily on its recent popularity, with the announcement this...

Friday, January 29, 2021, 07:24:34 AM

Sundial Growers Posts Fourth Quarter 2020 Revenues Of C$13.9 Million, Net Loss Of C$64.1 Million

Sundial Growers (NASDAQ: SNDL) this evening vaguely reported its fourth quarter financial results, reporting revenues...

Wednesday, March 17, 2021, 06:04:23 PM