05/29/2026 | Press release | Distributed by Public on 05/29/2026 15:01
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 27, 2026, Edible Garden AG Incorporated (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 for at least 30 consecutive business days, the Company no longer meets Nasdaq Listing Rule 5550(a)(2), which requires listed companies to maintain a minimum bid price of at least $1 per share (the "Bid Price Rule").
Under Nasdaq Listing Rule 5810(c)(3)(A)(iv), because the Company has effected a reverse stock split over the prior one-year period or has effected one or more reverse stock splits in the last two years with a cumulative ratio greater than 250 shares to 1, the Company is not eligible for any compliance period to regain compliance with the Bid Price Rule. The Company's securities will be suspended from trading on Nasdaq at the opening of business on June 5, 2026 unless the Company timely appeals the Staff determination by requesting a hearing before a Nasdaq Hearings Panel (the "Panel").
The Company has until June 3, 2026 to request a hearing before the Panel. The Company intends to timely request a hearing before the Panel. The hearing request will automatically stay the suspension of the Company's securities from trading on Nasdaq until further action from the Panel. While the appeal is pending, the Company's common stock and warrants will continue to trade on the Nasdaq under the symbols "EDBL" and "EDBLW," respectively. There can be no assurance that the Panel will grant the Company additional time to regain compliance with Nasdaq's listing standards or that the Company could ultimately meet all applicable criteria for continued listing on Nasdaq.