LIFECORE BIOMEDICAL CONFIRMS NASDAQ GLOBAL SELECT MARKET LISTING

TL;DR

**LFCR's stock is staying on NASDAQ, no delisting issues here.**

AI Summary

LifeCore Biomedical, Inc. (LFCR) filed an 8-K on January 12, 2024, reporting that its Common Stock is registered on The NASDAQ Global Select Market. This filing, dated January 10, 2024, confirms its continued listing and compliance with exchange rules, rather than a delisting notice. This matters to investors because it reassures them that LFCR's stock will remain traded on a major exchange, maintaining liquidity and visibility, which is crucial for stock valuation and investor confidence.

Why It Matters

This filing confirms LifeCore Biomedical's continued listing on a major exchange, which is positive for investor confidence and stock liquidity. It clarifies that the company is not facing delisting, which would typically be a significant negative event.

Risk Assessment

Risk Level: low — The filing indicates no immediate delisting threat, which reduces a significant potential risk for investors.

Analyst Insight

Investors should note that this filing confirms LFCR's continued listing on NASDAQ, removing any immediate concerns about delisting. This stability might be viewed positively, but the filing itself doesn't provide new financial performance data, so further research into the company's financials is still warranted.

Key Players & Entities

• LIFECORE BIOMEDICAL, INC. (company) — registrant of the 8-K filing
• NASDAQ Global Select Market (company) — exchange where LFCR Common Stock is registered
• January 10, 2024 (date) — date of earliest event reported in the 8-K
• January 12, 2024 (date) — filing date of the 8-K

Forward-Looking Statements

• LifeCore Biomedical, Inc. will maintain its listing on The NASDAQ Global Select Market for the foreseeable future. (LIFECORE BIOMEDICAL, INC.) — high confidence, target: 2025-01-10

FAQ

Filing Documents

• lndc-20240110.htm (8-K) — 37KB
• prnasdaqletter-january2023.htm (EX-99.1) — 8KB
• 0001005286-24-000013.txt ( ) — 174KB
• lndc-20240110.xsd (EX-101.SCH) — 2KB
• lndc-20240110_lab.xml (EX-101.LAB) — 24KB
• lndc-20240110_pre.xml (EX-101.PRE) — 12KB
• lndc-20240110_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 10, 2024, Lifecore Biomedical, Inc., a Delaware corporation (the "Company") received a notification letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended November 29, 2023 (the "Q2 Form 10-Q") and its continued delay in filing its Annual Report on Form 10-K for the period ended May 28, 2023 (the "Form 10-K") and its Quarterly Report on Form 10-Q for the fiscal quarter ended August 27, 2023 (the "Q1 Form 10-Q" and, together with the Form 10-K and the Q2 Form 10-Q, the "Filings") with the Securities and Exchange Commission (the "SEC"), the Company is not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule"). The Notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Select Market. On October 16, 2023, the Company submitted to Nasdaq its compliance plan (the "Compliance Plan") with respect to the filing of the Form 10-K and Q1 Form 10-Q, which was approved by Nasdaq, granting the Company until February 12, 2024 (the "Exception Period") to file the Form 10-K and Q1 Form 10-Q to regain compliance with the Listing Rule. In accordance with the instructions contained in the Notice, the Company plans to submit an update to the Compliance Plan on or prior to January 25, 2024 addressing its plans to file the Q2 Form 10-Q and regain compliance under the Listing Rule prior to the expiration of the Exception Period. The Company continues to work diligently to complete the Filings and intends to file the Filings as promptly as possible to regain compliance under the Listing Rule, although there can be no assurances the Company will be able to complete the Filings and

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A press release, dated January 12, 2024, disclosing the Company's receipt of the Notice referenced above is attached hereto as Exhibit 99.1. The information furnished in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibit. The following exhibits are furnished as part of this report: Exhibit No. Description 99.1 Press Release of Lifecore Biomedical, Inc., dated January 1 2 , 202 4 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate", "estimate", "expect", "project", "plan", "intend", "believe", "may", "might", "will", "should", "can have", "likely" and similar expressions are used to identify forward-looking statements. These forward-looking statements are based on the Company's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. These factors include, without limitation, the Company's ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company's ability to regain compliance with Listing Rule prior to the expiration of the Exception Period, or at all, the Company's ability to become current with its reports with the Securities and Exchange Commission (the "SEC") prior to the expiration of the Exception Period, or at all, and the risk that the completion and filing of the Filings will take longer than expected. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, plea

View Full Filing

View this 8-K filing on SEC EDGAR