IZEA Regains Compliance With Nasdaq Bid Price Rule
June 22 2020 - 2:30PM
IZEA Worldwide, Inc. (NASDAQ: IZEA) (the “Company”), the premier
provider of influencer marketing technology, data, and services for
the world’s leading brands, today received formal notification from
The Nasdaq Stock Market LLC ("Nasdaq") that the Company has
regained compliance with Listing Rule 5550(a)(2), which requires
the Company's common stock to maintain a minimum bid price of $1.00
per share. The Nasdaq staff made this determination of compliance
after the closing bid price of the Company's common stock was at
$1.00 per share or greater for the prior 10 consecutive business
days.
Nasdaq had previously notified the Company of its
non-compliance with Listing Rule 5550(a)(2) on June 13, 2019. In
accordance with its Listing Rules, Nasdaq afforded the Company 180
calendar days (until December 10, 2019) to regain compliance and on
December 11, 2019 granted the Company an additional 180 days for
compliance, through June 8, 2020. In the interim, as a result
of the effects of COVID-19 on businesses and the stock market,
without request, Nasdaq filed a rule change to toll the bid price
requirement, resulting in the Company’s compliance period extending
through August 24, 2020. Prior to the expiration of the compliance
period, the Company successfully regained compliance with the
listing standard as a result of favorable market conditions.
About IZEA Worldwide, Inc.IZEA
Worldwide, Inc. (“IZEA”) operates IZEAx Unity Suite, the premier
online marketplace that connects marketers with content creators.
IZEAx automates influencer marketing and custom content
development, allowing brands and agencies to scale their marketing
programs. IZEA creators include celebrities and accredited
journalists. Creators are compensated for producing unique content
such as long and short form text, videos, photos, status updates,
and illustrations for marketers or distributing such content on
behalf of marketers through their personal websites, blogs, and
social media channels. Marketers receive influential content and
engaging, shareable stories that drive awareness. For more
information about IZEA, visit https://izea.com/ and the company’s
blog at https://izea.com/blog, or follow IZEA on Twitter at
www.twitter.com/izea.
Safe Harbor StatementAll
statements in this release that are not based on historical fact
are “forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “may,” “will,” “would,” “could,”
“should,” “expects,” “anticipates,” “estimates,” “believes,”
“intends,” “likely,” “projects,” “plans,” “pursue," “strategy” or
“future,” or the negative of these words or other words or
expressions of similar meaning. Examples of forward-looking
statements include, among others, statements we make regarding
expectations concerning IZEA’s ability to increase revenue and
improve Adjusted EBITDA, expectations with respect to operational
efficiency, and expectations concerning IZEA’s business strategy.
Forward-looking statements involve inherent risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements, as a result of various factors
including, among others, the following: our ability to raise
additional funding needed to fund our business operation in the
future, uncertainty relating to the effects of COVID-19,
competitive conditions in the content and social sponsorship
segment in which IZEA operates; failure to popularize the IZEAx
marketplace platform; inability to finance growth initiatives in a
timely manner; our ability to satisfy the requirements for
continued listing of our common stock on the Nasdaq Capital Market;
changing economic conditions that are less favorable than expected;
and other risks and uncertainties described in IZEA’s periodic
reports filed with the Securities and Exchange Commission. The
forward-looking statements made in this release speak only as of
the date of this release, and IZEA assumes no obligation to update
any such forward-looking statements to reflect actual results or
changes in expectations, except as otherwise required by law.
Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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