TNMG: TNMG receives Nasdaq delisting determination; will request hearing

AI Summary

TNL Mediagene (TNMG) said Nasdaq notified the company on June 22, 2026 that its shares are subject to delisting after the closing bid stayed below $1.00 for 30 consecutive business days (May 7–June 18). The company is ineligible for a typical cure period due to a recent reverse stock split and Nasdaq also cited a separate prior non-compliance with the $2.5M minimum stockholders' equity requirement. TNL will timely request a Nasdaq hearing to appeal (which automatically stays any suspension) and will present a plan to regain compliance while shares continue trading under TNMG pending the Panel's decision.

Positives

Company will timely request a Nasdaq hearing to appeal the delisting decision
Hearing request automatically stays suspension and Form 25-NSE filing, so shares continue trading under TNMG
Company will present a plan to regain compliance at the Nasdaq Hearings Panel

Negatives

Closing bid price below $1.00 for 30 consecutive business days (May 7–June 18), violating Nasdaq Rule 5550(a)(2)
Reverse stock split during the prior year makes the company ineligible for a compliance cure period
Also out of compliance with Nasdaq's $2,500,000 minimum stockholders' equity requirement (separate basis for delisting)