Current Report Filing (8-k)
November 23 2022 - 5:16PM
Edgar (US Regulatory)
0001730773
false
0001730773
2022-11-17
2022-11-17
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): November 17, 2022
BLUE
STAR FOODS CORP.
(Exact
name of registrant as specified in charter)
Delaware |
|
000-55903 |
|
82-4270040 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
3000
NW 109th Avenue
Miami,
Florida |
|
33172 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (305) 836-6858
N/A |
(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:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.0001 par value |
|
BSFC |
|
The
Nasdaq Stock Market LLC
(Nasdaq
Capital Market) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On
November 17, 2022, Blue Star Foods Corp. (the “Company”) received a notice letter (the “Notice”) from the Listing
Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based upon the closing bid
price of the Company’s common stock, par value $0.0001 per share (“Common Stock”), for the last 30 consecutive business
days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued
listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”).
The
Notice has no immediate effect on the continued listing status of the Company’s Common Stock on The Nasdaq Capital Market, and,
therefore, the Company’s listing remains fully effective.
The
Company is provided a compliance period of 180 calendar days from the date of the Notice, or until May 16, 2023, to regain compliance
with Nasdaq Listing Rule 5550(a)(2). If at any time before May 16, 2023, the closing bid price of the Company’s Common Stock closes
at or above $1.00 per share for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company
has achieved compliance with the Minimum Bid Requirement, and the matter would be resolved.
If
the Company does not regain compliance with the Minimum Bid Requirement during the initial 180 calendar day period, the Company may be
eligible for an additional 180 calendar day compliance period. 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, with the
exception of the Minimum Bid Requirement, and would need to provide written notice of its intention to cure the deficiency during the
second compliance period, by effecting a reverse stock split, if necessary.
The
Company will continue to actively monitor the closing bid price of its Common Stock and will seek to regain compliance with all applicable
Nasdaq requirements within the allotted compliance periods. If the Company does not regain compliance within the allotted compliance
periods, 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 that determination to a Nasdaq hearings panel.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date:
November 23, 2022 |
BLUE
STAR FOODS CORP. |
|
|
|
|
By: |
/s/
John Keeler |
|
|
John
Keeler
Executive
Chairman and Chief Executive Officer |
Blue Star Foods (NASDAQ:BSFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blue Star Foods (NASDAQ:BSFC)
Historical Stock Chart
From Apr 2023 to Apr 2024