FlexShopper, Inc. Announces regained compliance with Nasdaq’s Minimum Bid Price Requirement
June 01 2023 - 4:32PM
FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading
national online lease-to-own retailer and financing solutions
provider for underserved consumers, today announced that the
Company has regained compliance with the Nasdaq’s Minimum Bid Price
Requirement.
As previously disclosed, on April 21, 2023, the
Company received a letter from The Nasdaq Stock Market LLC
(“Nasdaq”) notifying the Company that, because the closing bid
price of the Company’s common stock had been below $1.00 per share
for 30 consecutive business days, it no longer complied with the
$1.00 per share minimum bid price requirement of Nasdaq Listing
Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) for continued
listing on The Nasdaq Capital Market.
On May 31, 2023, the Company received a letter
(the “Compliance Notice”) from Nasdaq notifying the Company that
the Listing Qualifications Department (the “Staff”) of Nasdaq has
determined that for the last 11 consecutive business days, from May
16, 2023 through May 31, 2023, the closing bid price of the
Company’s common stock has been at $1.00 per share or greater.
Accordingly, the Company has regained compliance with the Minimum
Bid Price Requirement, and the Staff has determined that this
matter is now closed.
About FlexShopper
FlexShopper, Inc. (FPAY) is a financial
technology company that provides electronics, home furnishings and
other durable goods to underserved consumers on a lease-to-own
(LTO) basis through its patented e-commerce marketplace
(www.FlexShopper.com). FlexShopper also provides LTO and loan
technology platforms to a growing number of retailers and
e-retailers to facilitate transactions with consumers without
access to traditional financing.
Forward-Looking Statements
All statements in this release that are not
based on historical fact are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements, which are based on certain assumptions and describe our
future plans and strategies, are generally noted in the risks and
uncertainties described in the Risk Factors and in Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of our Annual Report on Form 10-K and
subsequently filed Quarterly Reports on Form 10-Q. The
forward-looking statements made in this release speak only as of
the date of this release, and FlexShopper assumes no obligation to
update any such forward-looking statements to reflect actual
results or changes in expectations, except as otherwise required by
law.
Contact:
FlexShopper, Inc.Investor
Relationsir@flexshopper.comFlexShopper, Inc.
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