Borealis Foods receives Nasdaq notice of listing rule non-compliance
Borealis Foods received notice on July 2, 2026 from Nasdaq that it no longer meets the minimum Market Value of Listed Securities (MVLS) requirement of $35,000,000 for continued listing on The Nasdaq Capital Market under Listing Rule 5550(b)(2), and does not satisfy alternative continued listing standards under Rules 5550(b)(1) and 5550(b)(3). The company has a 180-calendar-day compliance period, until December 29, 2026, to regain compliance by achieving a closing MVLS of at least $35,000,000 for a minimum of ten consecutive business days. The notice has no immediate effect on trading of the company's common shares or warrants.
Key facts
- Minimum MVLS requirement for compliance: $35,000,000
- Compliance period: 180 calendar days, until December 29, 2026
- Notice received: July 2, 2026
- Company does not satisfy Rules 5550(b)(1) (stockholders' equity) and 5550(b)(3) (net income from continuing operations)
- Nasdaq staff discretion to require 20 consecutive business days of compliance instead of 10
- If company does not regain compliance, it would be entitled to appeal to a Hearings Panel
Why it matters
Borealis Foods must restore its market capitalization above $35 million within six months or face delisting from Nasdaq, which would also result in delisting of its warrants and materially harm liquidity and trading price.
Share
Derived from 8-K filed 2026-07-08. Not investment advice. View the source filing on SEC.gov →