Allied Gaming & Entertainment Faces Delisting Notice
Ticker: AGAE · Form: 8-K · Filed: May 21, 2024 · CIK: 1708341
Sentiment: bearish
Topics: delisting, listing-rules, corporate-actions
Related Tickers: AGAE
TL;DR
AGAE got a delisting notice, stock might be in trouble.
AI Summary
Allied Gaming & Entertainment Inc. filed an 8-K on May 21, 2024, to report a notice of delisting or failure to satisfy continued listing rules. The company's former name was Allied Esports Entertainment, Inc., and it was previously known as Black Ridge Acquisition Corp.
Why It Matters
This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and trading of the company's shares.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Allied Gaming & Entertainment Inc. (company) — Registrant
- Allied Esports Entertainment, Inc. (company) — Former Name
- Black Ridge Acquisition Corp. (company) — Previous Former Name
- May 15, 2024 (date) — Earliest event reported
- May 21, 2024 (date) — Filing date
FAQ
What is the specific reason for the notice of delisting?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing', but the specific rule or standard is not detailed in this excerpt.
When was the earliest event reported in this filing?
The earliest event reported was on May 15, 2024.
What is the company's principal executive office address?
The principal executive offices are located at 745 Fifth Avenue, Suite 500, New York, New York 10151.
What was the company's former name before Allied Esports Entertainment, Inc.?
The company was formerly known as Black Ridge Acquisition Corp.
What is the company's IRS Employer Identification Number?
The IRS Employer Identification Number is 82-1659427.
Filing Stats: 570 words · 2 min read · ~2 pages · Grade level 12.8 · Accepted 2024-05-21 16:35:25
Key Financial Figures
- $0.0001 — r the Company's common stock, par value $0.0001 per share (the "Common Stock") was belo
- $1.00 — e "Common Stock") was below the minimum $1.00 per share requirement for continued inc
Filing Documents
- a8k.htm (8-K) — 25KB
- 0000929638-24-001856.txt ( ) — 156KB
- agae-20240515.xsd (EX-101.SCH) — 4KB
- agae-20240515_lab.xml (EX-101.LAB) — 21KB
- agae-20240515_pre.xml (EX-101.PRE) — 16KB
- a8k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 15, 2024, Allied Gaming & Entertainment Inc. (the "Company") received a deficiency letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying the Company that, for the preceding 32 consecutive business days, the closing bid price for the Company's common stock, par value $0.0001 per share (the "Common Stock") was below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"). The notification received has no immediate effect on the Company's Nasdaq listing. In accordance with Nasdaq rules, the Company has been provided an initial period of 180 calendar days, or until November 11, 2024 (the "Compliance Date"), to regain compliance with the Bid Price Requirement. If, at any time before the Compliance Date, the closing bid price for the Common Stock is at least $1.00 for a minimum of 10 consecutive business days, the Staff will provide the Company written confirmation of compliance with the Bid Price Requirement. The Company will monitor the closing bid price of the Common Stock and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement. SIGNATURE 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. ALLIED GAMING & ENTERTAINMENT, INC. Date: May 21, 2024 By: /s/ Roy Anderson Roy Anderson Chief Financial Officer