03/18/2026 | Press release | Distributed by Public on 03/18/2026 06:09
Item 8.01. Other Events.
As previously reported, on December 31, 2025, Meridian Holdings Inc. (the "Company"), received a letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock, $0.00001 par value per share (the "Common Stock") for the thirty-four (34) consecutive business days from November 11, 2025 to December 30, 2025, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In accordance with the Nasdaq Listing Rules, the Company was provided a grace period of 180 days, or until June 30, 2026, to regain compliance with the Minimum Bid Price Requirement.
Effective on March 3, 2026, we affected a 1-for-12 reverse stock split of our outstanding common stock in an effort to satisfy the Minimum Bid Price Requirement.
On March 17, 2026, the Company received a letter from Nasdaq notifying the Company that it has regained full compliance with the Minimum Bid Price Requirement because Nasdaq has determined that for 10 consecutive business days, the closing bid price of the Company's common stock was at or above $1.00 per share, and that the matter is now closed.
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