Xcel Brands, Inc. received a notice from The Nasdaq Stock Market on September 29, 2026, stating that its common stock failed to meet the minimum bid price requirement. The company's shares traded below $1.00 per share for 30 consecutive business days, triggering the delisting alert under Nasdaq Listing Rules.
The letter from the Listing Qualifications Department grants Xcel Brands 180 calendar days to regain compliance, extending until March 29, 2027. To satisfy the requirement during this period, the closing bid price of the company's common stock must reach at least $1.00 for a minimum of 10 consecutive business days at any time before the deadline.
If Xcel Brands does not meet this standard by March 29, 2027, it may be eligible for additional time to cure the deficiency under Nasdaq Listing Rule 5810(c)(3)(A)(ii). However, securing this extension requires the company to provide written notice to Nasdaq of its intention to cure the deficiency, potentially through a reverse stock split. The Nasdaq staff will then determine whether it believes the company can successfully cure the deficiency. If Nasdaq concludes that a cure is unlikely, or if Xcel Brands chooses not to submit a transfer application or make the required representation, the exchange will issue a notice that the shares are subject to delisting.
Should delisting proceed, Xcel Brands retains the right to appeal the determination to a hearings panel. The company has stated it intends to monitor its closing bid price and the market value of its publicly held common stock through March 29, 2027. Management plans to consider available options to resolve the noncompliance as necessary.
The filing was signed by James F. Haran, Chief Financial Officer of Xcel Brands, Inc., on October 2, 2026. The company emphasized that there is no assurance it will be able to regain compliance with the minimum bid price requirement or remain in compliance with other Nasdaq listing criteria.