**Edible Garden Receives Extension from Nasdaq Hearing Panel to Regain Compliance with Bid Price Rule**

On February 12, 2025, Edible Garden AG Incorporated (NASDAQ: EDBL) disclosed in a Form 8-K filing that it has been granted an extension from The Nasdaq Stock Market LLC (“Nasdaq”) Hearing Panel to regain compliance with the Bid Price Rule. Nasdaq has provided Edible Garden an extension until March 31, 2025, subject to specific conditions outlined in the notification received by the company.

The initial issue arose on October 21, 2024, when Edible Garden received a letter from Nasdaq stating that it no longer complied with Nasdaq Listing Rule 5550(a)(2), requiring listed companies to maintain a minimum bid price of $1 per share. Due to previous reverse stock splits exceeding a cumulative ratio of 250 shares to 1 within the last two years, the company was ineligible for any compliance period under Nasdaq Listing Rule 5810(c)(3)(A)(iv).

In response, Edible Garden requested a hearing before the Nasdaq Hearing Panel, which took place on January 14, 2025. The company is now tasked with achieving set milestones within the granted extension period to ensure compliance with the Bid Price Rule. Failure to meet these milestones may lead to the revocation of the extension by the Panel.

Edible Garden expressed its commitment to striving for compliance with the Bid Price Rule and meeting the outlined milestones within the timeline provided. However, the company cautioned that there are no guarantees of successfully regaining compliance or meeting the set milestones within the specified timeframe.

The filing further included forward-looking statements, emphasizing the uncertainties of achieving expected results. Edible Garden noted that while it bases its expectations on reasonable assumptions about its business, actual results may vary. The company highlighted factors, including risks, detailed in its reports to the Securities and Exchange Commission, that may lead to results differing from its expectations.

In closing, Edible Garden reassured stakeholders of its dedication to transparency and compliance, promising to update or revise any forward-looking statements as necessary. The company underlined its ongoing efforts to achieve compliance and maintain its listing on Nasdaq amidst the outlined challenges.

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

Edible Garden Company Profile

Edible Garden AG Incorporated, together with its subsidiaries, operate as a controlled environment agriculture farming company. It offers various packaged products, including cilantro, rosemary, mint, thyme, oregano, bay leaves, chives, poultry mix, sage, dill, buttercrunch living lettuce, basil, living butterhead lettuce, basil, parsley, arugula spring mix, baby arugula blend, baby romaine, and crisp ranch and Caesar salad kits.