04/28/2026 | Press release | Distributed by Public on 04/28/2026 15:17
| Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed, on March 18, 2025, Vivakor, Inc. (the "Company") received a notification letter from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the closing bid price for the Company's common stock, par value $0.001 per share (the "Common Stock") listed on Nasdaq was below $1.00 per share for 30 consecutive business days, the Company did not comply with Listing Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement").
As previously disclosed, on December 19, 2025, the Company received a notification letter (the "Letter") from the Staff that as of December 19, 2025, the Common Stock had a closing bid price of $0.10 or less for ten consecutive trading days and accordingly, the Company was subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule").
The trading of the Common Stock was suspended at the opening of business on December 26, 2025.
As previously disclosed, on December 24, 2025, the Company submitted an appeal to the Staff's determination described in the Letter, and a hearing was held on January 29, 2026. On March 24, 2026, the Company effected a 1-for-200 reverse stock split of the Common Stock in order to satisfy the Minimum Bid Price Requirement.
On April 23, 2026, the Company received a notification letter (the "April Letter") from the Staff that the Nasdaq Hearing Panel (the "Panel") has determined that the Company is in compliance with the Minimum Bid Price Requirement and that trading in the Company's securities will resume trading on the Exchange effective April 27, 2026. Pursuant to Listing Rule 5815(d)(4)(B), the Company will be subject to a Mandatory Panel Monitor for a period of one year from the date of the April Letter. In the event that the Company becomes deficient with the Minimum Bid Price Requirement, the Company will not be afforded the opportunity to submit a compliance plan for the Staff's consideration and the Staff will issue a Delisting Determination Letter, following which the Company may request review by the Panel, at which the Company may present a compliance plan for the Panel's consideration.