Reborn Coffee, Inc. (REBN) has released an update to notify the public and investors about listing compliance status.
Reborn Coffee, Inc. is working to address its non-compliance with Nasdaq’s listing rules by implementing a series of measures, including a reverse stock split that has already increased its share price above the required threshold. The company has presented a compliance plan to the Nasdaq Hearings Panel, aiming to remedy its equity shortfall through financing and to schedule an annual stockholder meeting. Granted an extension until March 29, 2024, the company is focused on meeting the conditions to maintain its Nasdaq listing, although the future remains uncertain.
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For a comprehensive understanding of the announcement, you can read the full document here.
