Current Report Filing (8-k)
01 May 2021 - 6:02AM
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
April
27, 2021
Date
of Report (Date of earliest event reported)
STAFFING
360 SOLUTIONS, INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
001-37575
|
|
68-0680859
|
(State
or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S.
Employer
Identification
Number)
|
641
Lexington Avenue
27th
Floor
New
York, NY 10022
(Address
of principal executive offices)
(646)
507-5710
(Registrant’s
telephone number, including area code)
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))
|
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. [ ]
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
|
|
STAF
|
|
NASDAQ
|
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
April 27, 2021, Staffing 360 Solutions, Inc. (the “Company”) received a letter from the Listing Qualifications Department
of the Nasdaq Stock Market (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common
stock for the 30 consecutive business day period between March 12, 2021, through April 27, 2021, the Company did not meet the
minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule
5550(a)(2). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until
October 25, 2021 (the “Compliance Period”), in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).
In
order to regain compliance with Nasdaq’s minimum bid price requirement, the Company’s common stock must maintain a
minimum closing bid price of $1.00 for at least ten consecutive business days during the Compliance Period. In the event the Company
does not regain compliance by the end of the Compliance Period, the Company may be eligible for additional time to regain compliance.
To qualify, the Company will be required to meet the continued listing requirement for the market value of its publicly held shares
and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will
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. If the Company meets these requirements, the Company may be granted an additional 180 calendar days
to regain compliance. However, if it appears to Nasdaq that the Company will be unable to cure the deficiency, or if the Company
is not otherwise eligible for the additional cure period, Nasdaq will provide notice that the Company’s common stock will
be subject to delisting.
The
letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded
on The Nasdaq Capital Market, subject to the Company’s compliance with the other listing requirements of The Nasdaq Capital
Market.
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 hereunto duly authorized.
Date:
April 30, 2021
|
STAFFING
360 SOLUTIONS, INC.
|
|
|
|
|
By:
|
/s/
Brendan Flood
|
|
|
Brendan
Flood
|
|
|
Chairman
and Chief Executive Officer
|
Staffing 360 Solutions (NASDAQ:STAF)
Historical Stock Chart
From Apr 2024 to May 2024
Staffing 360 Solutions (NASDAQ:STAF)
Historical Stock Chart
From May 2023 to May 2024