SharpLink Gaming receives extension from Nasdaq Hearings Panel
The company has been given additional time to reach Nasdaq’s minimum bid price requirement.
Key Points
- The Nasdaq Hearings Panel has granted SharpLink an extension to prove its minimum price compliance
- This development closely follows Nasdaq’s notification to the company that it had achieved full compliance to trade on the market
SharpLink Gaming has been granted an official extension by the Nasdaq Listing Qualifications Panel (also known as the Hearings Panel) in order to obtain compliance with the minimum price requirement for Nasdaq listing.
As specified in Nasdaq’s Listing Rules, companies must maintain a minimum bid price of $1 per share alongside a minimum stockholders’ equity of $2.5m to be compliant with the minimum bid price requirement.
Following this latest announcement, SharpLink Gaming has been given an extended period until May 23, 2025, in order to meet these requirements and maintain its Nasdaq listing.
More specifically, this development comes following SharpLink’s request for a hearing with the Nasdaq Hearings Panel, which was subsequently undergone on February 25, 2025.
After the panel concluded, Nasdaq confirmed its grant for an extension that will allow SharpLink to complete its compliance plan based on evidence presented by the company.
Good to know: SharpLink received a full compliance notice, allowing it to continue trading ordinary shares on the exchange, on February 8, 2025
Speaking on the news, Rob Phythian, Chairman and CEO of SharpLink, said, “We are delighted that the Hearings Panel approved of our plan and granted us the time we require to regain compliance and return to good standing with Nasdaq.
“We are moving forward with executing several important related initiatives and intend to work relentlessly to ensure that each of our compliance goals are achieved.”
This full compliance notice, however, has seemingly been nullified as SharpLink is now having to re-prove its compliance with the stock market organisation.
In additional recent company-related news, SharpLink Gaming announced the acquisition of a 10% stake in Crypto.com owner and operator, Armchair Enterprises – as part of a deal reportedly valued at $500,000.
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