Conifer Holdings Faces Delisting Concerns
Ticker: PRHIZ · Form: 8-K · Filed: Mar 22, 2024 · CIK: 1502292
| Field | Detail |
|---|---|
| Company | Conifer Holdings, Inc. (PRHIZ) |
| Form Type | 8-K |
| Filed Date | Mar 22, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $5,000,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, insurance
TL;DR
Conifer Holdings might get delisted, check their listing status.
AI Summary
Conifer Holdings, Inc. filed an 8-K on March 22, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of March 19, 2024. The company is incorporated in Michigan and its principal executive offices are located in Troy, MI.
Why It Matters
This filing indicates potential issues with Conifer Holdings' continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress for the company.
Key Numbers
- 001-37536 — Commission File Number (Identifies the company's SEC filings)
- 27-1298795 — I.R.S. Employer Identification Number (Company's tax identification number)
Key Players & Entities
- Conifer Holdings, Inc. (company) — Registrant
- March 19, 2024 (date) — Date of earliest event reported
- March 22, 2024 (date) — Date of report
- Michigan (location) — State of incorporation
- Troy, MI (location) — Principal executive offices
FAQ
What specific listing rule or standard has Conifer Holdings, Inc. 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 date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 19, 2024.
What is the primary business of Conifer Holdings, Inc. according to the filing?
The Standard Industrial Classification code indicates the company is in FIRE, MARINE & CASUALTY INSURANCE [6331].
Where are Conifer Holdings, Inc.'s principal executive offices located?
The principal executive offices are located at 3001 West Big Beaver Road, Suite 200, Troy, MI 48084.
What is the company's telephone number?
The company's telephone number, including area code, is (248) 559-0840.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-03-22 16:34:35
Key Financial Figures
- $5,000,000 — ue of Publicly Held Shares ("MVPHS") of $5,000,000 for continued listing on the Nasdaq Glo
Filing Documents
- cnfr-20240319.htm (8-K) — 41KB
- 0000950170-24-035407.txt ( ) — 191KB
- cnfr-20240319.xsd (EX-101.SCH) — 51KB
- cnfr-20240319_htm.xml (XML) — 6KB
01. Other Events
Item 3.01. Other Events. As previously disclosed, on October 23, 2023, Conifer Holdings Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market, LLC (the "Nasdaq") notifying the Company that it was no longer in compliance with the requirement of a minimum Market Value of Publicly Held Shares ("MVPHS") of $5,000,000 for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(b)(1)(C). As a result of the Approval (as defined below) of the transfer of the listing of the Company's common stock, no par value (the "Common Stock") from the Nasdaq Global Market to the Nasdaq Capital Market, the Company has cured the MVPHS deficiency. On March 19, 2024, the Company received approval from Nasdaq to transfer the listing of the Company's Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market (the "Approval"). The Company's Common Stock was transferred to the Nasdaq Capital Market effective as of the open of business on March 21, 2024, and continues to trade under the symbol "CNFR." The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market, and listed companies must meet certain financial requirements and comply with Nasdaq's corporate governance requirements. The Company's 9.75% Senior Unsecured Notes due 2028 will continue to trade on the Nasdaq Global Market. 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. Conifer Holdings Inc. Date: March 22, 2024 By: /s/ BRIAN J. RONEY Brian J. Roney President