Noodles & Co. Faces Delisting Concerns
Ticker: NDLS · Form: 8-K · Filed: Dec 31, 2024 · CIK: 1275158
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: NDLS
TL;DR
NDLS might get delisted - big trouble for the stock.
AI Summary
Noodles & Company filed an 8-K on December 24, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is based in Broomfield, Colorado, and its stock is traded under the ticker symbol "NDLS". This filing indicates potential issues with maintaining its listing on the stock exchange.
Why It Matters
This filing suggests Noodles & Company may be at risk of being removed from its stock exchange, which could significantly impact its stock price and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards indicates significant financial or operational distress that could lead to the stock being removed from the exchange.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)
Key Players & Entities
- Noodles & Company (company) — Registrant
- December 24, 2024 (date) — Date of earliest event reported
- Broomfield, CO (location) — Principal executive offices location
- 720-214-1900 (phone_number) — Registrant's Telephone Number
- 001-35987 (commission_file_number) — SEC File Number
FAQ
What specific listing rule or standard has Noodles & Company failed to satisfy?
The filing does not specify the exact rule or standard that was not met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the exact date of the event triggering this 8-K filing?
The date of the earliest event reported is December 24, 2024.
What is the Commission File Number for Noodles & Company?
The Commission File Number for Noodles & Company is 001-35987.
Where are Noodles & Company's principal executive offices located?
The principal executive offices of Noodles & Company are located at 520 Zang Street, Suite D, Broomfield, CO 80021.
What is the IRS Employer Identification Number for Noodles & Company?
The IRS Employer Identification Number for Noodles & Company is 84-1303469.
Filing Stats: 852 words · 3 min read · ~3 pages · Grade level 14.3 · Accepted 2024-12-31 16:09:20
Key Financial Figures
- $1.00 — maintain a minimum closing bid price of $1.00 per share, and Nasdaq Listing Rule 5810
Filing Documents
- ndls-20241224.htm (8-K) — 32KB
- 0001275158-24-000104.txt ( ) — 153KB
- ndls-20241224.xsd (EX-101.SCH) — 2KB
- ndls-20241224_lab.xml (EX-101.LAB) — 21KB
- ndls-20241224_pre.xml (EX-101.PRE) — 12KB
- ndls-20241224_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 December 24th, 2024, Noodles & Company (the "Company") received a notification letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq's Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement") for continued listing on The Nasdaq Global Select Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities maintain a minimum closing bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum closing bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common stock for the 30 consecutive business days prior to the date of the Notice, the Company does not currently meet the Minimum Bid Price Requirement. The Notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Global Select Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until June 23, 2025, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period (the "Compliance Period"), unless Nasdaq exercises its discretion to extend this ten-day period. If the Company has not been deemed in compliance prior to the expiration of the Compliance Period, the Company may be eligible for an additional 180-day compliance period if it applies to transfer the listing of its common stock to The Nasdaq Capital Market (the "Second Compliance Period"). To qualify, the Company must meet the continued listing requirement for the applicable market value of publicly held