Conifer Holdings Faces Delisting Notice
Ticker: PRHIZ · Form: 8-K · Filed: Aug 22, 2024 · CIK: 1502292
| Field | Detail |
|---|---|
| Company | Conifer Holdings, Inc. (PRHIZ) |
| Form Type | 8-K |
| Filed Date | Aug 22, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2.5 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, insurance
TL;DR
Conifer Holdings got a notice about potentially being delisted. Big trouble ahead?
AI Summary
Conifer Holdings, Inc. filed an 8-K on August 22, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of August 16, 2024. The company, incorporated in Michigan, is involved in fire, marine, and casualty insurance.
Why It Matters
This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and trading of Conifer Holdings' stock.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial stability.
Key Numbers
- 001-37536 — SEC File Number (Identifies the company's filings with the SEC.)
- 27-1298795 — IRS Number (Company's Employer Identification Number.)
Key Players & Entities
- Conifer Holdings, Inc. (company) — Registrant
- August 16, 2024 (date) — Date of earliest event reported
- August 22, 2024 (date) — Filing date
- Michigan (location) — State of Incorporation
- FIRE, MARINE & CASUALTY INSURANCE (industry) — Standard Industrial Classification
FAQ
What specific listing rule or standard did Conifer Holdings fail 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 was issued.
What is the effective date of the delisting notice?
The earliest event reported, which is the date of the notice, is August 16, 2024.
What is Conifer Holdings' primary business?
Conifer Holdings, Inc. is in the FIRE, MARINE & CASUALTY INSURANCE industry.
Where is Conifer Holdings headquartered?
Conifer Holdings, Inc. is headquartered at 3001 West Big Beaver Road, Suite 200, Troy, MI 48084.
What is the filing date of this 8-K report?
This 8-K report was filed on August 22, 2024.
Filing Stats: 561 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-08-22 16:00:08
Key Financial Figures
- $2.5 million — r ended June 30, 2024, has fallen below $2.5 million. The notice also indicates that the Com
Filing Documents
- cnfr-20240816.htm (8-K) — 41KB
- 0000950170-24-099820.txt ( ) — 192KB
- cnfr-20240816.xsd (EX-101.SCH) — 52KB
- cnfr-20240816_htm.xml (XML) — 6KB
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 August 16, 2024, Conifer Holdings Inc. (the "Company") received written notice from the Nasdaq Stock Market LLC ("Nasdaq") stating that the Company no longer complies with the minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1) for continued listing on The Nasdaq Stock Market LLC because the Company's stockholders' equity, as reported in the Company's Quarterly Report on Form 10-Q for the second quarter ended June 30, 2024, has fallen below $2.5 million. The notice also indicates that the Company does not meet the alternative compliance standards. Under applicable Nasdaq rules, the Company has 45 calendar days from the date of the notice, or until September 30, 2024, to submit a plan to regain compliance. The Company intends to timely submit such a plan to Nasdaq. If the Company's plan is accepted, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the notice to evidence compliance. The notice has no immediate impact on the listing of the Company's common stock, which will continue to trade on The Nasdaq Stock Market LLC under the symbol "CNFR". 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: August 22, 2024 By: /s/ BRIAN J. RONEY Brian J. Roney President