Board Diversity
Reference Library - Advanced Search


** To make multiple selections, select the first criterion and then press and hold the Ctrl Key **
1- 1 of 1 Search Results for:
Libraries:   FAQs - Listings
Filters:   Hearings and Appeals; All
Search   Clear

Expand All Printer Friendly View Mailto Link 
Page: 1 of 1
Frequently Asked Questions
  What factors does the Panel consider when deciding whether to continue the listing of a company that has filed for bankruptcy protection?
Identification Number 410
The Panel will delist the company if the company cannot demonstrate that it is in compliance with Nasdaq's listing requirements or that it will regain compliance within a reasonable period of time. In that regard, the Panel will request that the company provide current financial statements demonstrating compliance with the Nasdaq listing requirements as well as projected income statements indicating that the company will be able to sustain compliance. With respect to future compliance, the Panel will principally focus on whether the projected loss rate is such that it appears unlikely the company will be able to sustain compliance with the stockholders' equity requirement for the next twelve months (assuming the company does not meet one of the equity listing alternatives such as market value of listed securities or net income from continuing operations in the current fiscal year or two of the three previous fiscal years).
In addition to a demonstration that the company can sustain compliance with the listing requirements, the Panel will also require the company to show that the common shareholders and potential investors are likely to maintain a meaningful economic interest in the post-bankruptcy entity. Further, the Panel may request the company to demonstrate that it plans a near-term emergence from bankruptcy, for example, through a pre-packaged bankruptcy plan.
Publication Date*: 3/21/2023 Mailto Link Identification Number: 410
Page: 1 of 1
App Store       Google Play       Listing Center Content RSS Feed
The Nasdaq Stock Market, Nasdaq, The Nasdaq Global Select Market, The Nasdaq Global Market, The Nasdaq Capital Market, ExACT and Exchange Analysis and Compliance Tracking system are trademarks of Nasdaq, Inc.
FINRA® and Financial Industry Regulatory Authority, Inc.® are registered trademarks of Financial Industry Regulatory Authority, Inc.