Current Report Filing (8-k)
February 05 2016 - 6:56AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 2, 2016
ENGlobal Corporation
(Exact name of registrant as specified in its charter)
Nevada |
001-14217 |
88-0322261 |
(State or other jurisdiction
of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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654 N. Sam Houston Parkway E., Suite 400, Houston, Texas |
77060-5914 |
(Address of principal executive offices) |
(Zip Code) |
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Registrant's telephone number, including area code: 281-878-1000 |
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______________________________________________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On February 2, 2016, ENGlobal Corporation (the “Company”)
received written notice from The NASDAQ Stock Market (“NASDAQ”) indicating that the Company is not in compliance with
the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market, as set forth in Listing Rule 5550(a)(2).
The notice has no immediate effect on the listing of the Company’s common stock, and its common stock will continue to trade
on the NASDAQ Capital Market under the symbol “ENG” at this time.
In accordance with Listing Rule 5810(c)(3)(A), the
Company has a period of 180 calendar days, or until August 1, 2016, to regain compliance with the minimum bid price requirement.
To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least
ten consecutive business days during this 180-day period.
If the Company is not in compliance by August 1,
2016, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required
to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
The NASDAQ Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify NASDAQ
of its intent to cure the minimum bid price deficiency by implementing a reverse stock split if necessary.
If the Company does not regain compliance within
the allotted compliance period(s), including any extensions that may be granted by NASDAQ, NASDAQ will provide notice that the
Company’s common stock will be subject to delisting. The Company would then be entitled to appeal the NASDAQ Staff’s
determination to a NASDAQ Listing Qualifications Panel and request a hearing.
The Company intends to monitor the closing bid price
of the Company’s common stock and consider its available options to resolve the noncompliance with the minimum bid price
requirement. No determination regarding the Company’s response has been made at this time. There can be no assurance that
the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other
NASDAQ listing criteria.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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ENGlobal Corporation
(Registrant)
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February 5, 2016
(Date) |
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/s/ TAMI L. WALKER
General Counsel, Vice President, and
Corporate Secretary |
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