Nasdaq staff determines to delist SPAR Group common stock effective July 23, 2026
Nasdaq's Listing Qualifications Department determined on July 14, 2026, that SPAR Group did not cure non-compliance with the minimum bid price rule within its compliance period ending July 13, 2026, and is not eligible for a second cure period because the company also fails to meet the minimum stockholders' equity requirement. The company's common stock will be delisted from The Nasdaq Capital Market at the opening of business on July 23, 2026, unless the company files a hearing request by 4:00 p.m. Eastern Time on July 21, 2026.
Key facts
- Nasdaq staff determined delisting effective July 23, 2026, unless hearing request filed by July 21, 2026
- Non-compliance with Nasdaq Listing Rule 5550(a)(2): closing bid price below $1.00 for 30 consecutive business days; Compliance Period ended July 13, 2026
- Non-compliance with Nasdaq Listing Rule 5550(b): failed to maintain minimum $2,500,000 in stockholders' equity for Nasdaq Capital Market
- Company not eligible for second 180-day cure period due to stockholders' equity deficiency
- July 10, 2026 stockholder vote rejected 1-for-5 reverse stock split proposal: 4,851,288 votes for, 9,373,945 votes against
- July 10, 2026 stockholder vote rejected adjournment proposal: 4,883,229 votes for, 9,079,805 votes against
- Record date for special meeting: June 16, 2026; 28,398,560 shares outstanding
- Quorum at special meeting: 14,229,764 shares (50.11%) represented in person or by proxy
Why it matters
SPAR Group has exhausted its bid-price cure period and is ineligible for an extension because it simultaneously fails the stockholders' equity test; delisting will remove the company from Nasdaq unless a hearing is requested and successful by July 21, 2026.
Share
Derived from 8-K filed 2026-07-15. Not investment advice. View the source filing on SEC.gov →