LiveOne Receives Notice of Non-Compliance with Nasdaq Listing Rule 5550(a)(2)

LiveOne, Inc. (NASDAQ:LVO) recently disclosed in a Form 8-K filing that it received a notification letter from The Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement. The letter, dated November 12, 2024, informed LiveOne that its common stock did not meet the minimum bid price of $1.00 per share for the preceding 30 consecutive business days, as outlined in Nasdaq Listing Rule 5550(a)(2).

Despite this notification, the company’s common stock listing on The Nasdaq Capital Market remains unaffected at present. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), LiveOne has a 180-day compliance period, starting from November 12, 2024, to rectify the bid price non-compliance. To regain compliance, the closing bid price of LiveOne’s common stock must exceed $1.00 per share for a minimum of ten consecutive business days.

If LiveOne fails to meet the Bid Price Rule requirements within the initial 180-day compliance period, it might be eligible for an additional 180-day compliance window. However, meeting other Nasdaq Capital Market listing standards, apart from the bid price requirement, is crucial for qualifying for this extension. The company would need to provide written notice of its plan to address the deficiency during the subsequent compliance period, potentially including implementing a reverse share split.

In the event that LiveOne does not regain compliance by the end of the second 180-day period, it may face delisting of its shares from The Nasdaq Capital Market. The company would then have the opportunity to appeal this decision to a hearings panel following Nasdaq’s procedures. Nonetheless, the filing cautions that successful appeal outcomes are not guaranteed.

LiveOne stated that it is actively monitoring the closing bid price of its common stock and weighing available strategies to resolve the bid price rule non-compliance. The company emphasized that there are no guarantees of regaining compliance within the specified timeline and maintaining its listing on The Nasdaq Capital Market. Aaron Sullivan, the Chief Financial Officer of LiveOne, signed off on the report on November 15, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LiveOne’s 8K filing here.

LiveOne Company Profile

LiveOne, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, podcasting/vodcasting, and music-related streaming and video content. It operates LiveXLive, a live music streaming platform; PodcastOne, a podcasting platform; and Slacker, an integrated membership and advertising streaming music service, as well as produces original music-related content.