Blue Star Foods Faces Nasdaq Delisting Warning
Ticker: BSFC · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1730773
Sentiment: bearish
Topics: delisting, compliance, nasdaq
Related Tickers: BSFC
TL;DR
BSFC got a delisting warning from Nasdaq, might get kicked off the exchange.
AI Summary
Blue Star Foods Corp. (BSFC) announced on December 18, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating the notice and plans to respond to Nasdaq, aiming to regain compliance and maintain its listing.
Why It Matters
This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq poses a significant risk to the company's market presence and investor relations.
Key Players & Entities
- Blue Star Foods Corp. (company) — The company filing the report.
- Nasdaq Stock Market (company) — The exchange that issued the delisting notice.
- December 18, 2024 (date) — The date the company received the notice.
FAQ
What specific continued listing requirements did Blue Star Foods Corp. fail to meet?
The filing states that the company received a notice from the Nasdaq Stock Market indicating a failure to meet certain continued listing requirements, but it does not specify which requirements were not met.
What is the exact date Blue Star Foods Corp. received the delisting notice?
The company received the notice on December 18, 2024.
What is Blue Star Foods Corp.'s plan in response to the delisting notice?
The company is evaluating the notice and intends to respond to Nasdaq. Their goal is to regain compliance with the listing requirements.
Has Blue Star Foods Corp. been delisted from Nasdaq yet?
No, the filing indicates they received a notice of failure to meet requirements, not an actual delisting. They are working to regain compliance.
What was Blue Star Foods Corp.'s former name?
Blue Star Foods Corp.'s former name was AG ACQUISITION GROUP II, INC., with a name change date of February 7, 2018.
Filing Stats: 517 words · 2 min read · ~2 pages · Grade level 12.8 · Accepted 2024-12-19 13:25:01
Key Financial Figures
- $0.0001 B — nge on which registered Common Stock, $0.0001 BSFC The Nasdaq Stock Market LLC (Nas
Filing Documents
- form8-k.htm (8-K) — 32KB
- 0001493152-24-050752.txt ( ) — 201KB
- bsfc-20241218.xsd (EX-101.SCH) — 3KB
- bsfc-20241218_lab.xml (EX-101.LAB) — 33KB
- bsfc-20241218_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED 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 Date of Report (Date of earliest event reported): December 18, 2024 BLUE STAR FOODS CORP. (Exact name of registrant as specified in its charter) Delaware 001-40991 82-4270040 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 3000 NW 109th Avenue Miami , Florida 33172 (Address of principal executive offices) Registrant's telephone number, including area code: (305) 836-6858 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company 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)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbols Name of each exchange on which registered Common Stock, $0.0001 BSFC The Nasdaq Stock Market LLC (Nasdaq Capital Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities 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. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 18, 2024, Blue Star Foods Corp. (the "Company") received formal notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Nasdaq Hearings Panel (the "Panel") had determined to delist the Company's securities from Nasdaq based upon the Company's violation of Listing Rule 5550(a)(2), the " Minimum Bid Price Requirement ". As a result of the Panel's decision, Nasdaq will suspend trading in the Company's common stock effective with the open of business on Friday, December 20, 2024. Nasdaq will complete the delisting by filing a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities and Exchange Act of 1934, as amended, on Form 25 with the U.S. Securities and Exchange Commission once all applicable Nasdaq appeal and review periods have expired. The Company anticipates that, concurrent with the suspension of trading of its common stock on Nasdaq, the Company's shares will begin trading on the OTC Markets' OTC Pink Current Information tier under the current symbol "BSFC". The Company intends to apply to list its securities on the OTCQB as soon as practicable. 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. BLUE STAR FOODS CORP. Date: December 19, 2024 By: /s/ John Keeler John Keeler Executive Chairman and Chief Executive Officer