MESA Receives Nasdaq Delisting Notice for Sub-$1.00 Stock Price

TL;DR

**MESA got a delisting notice from Nasdaq for its stock trading under $1.00.**

AI Summary

Mesa Air Group, Inc. (MESA) announced on January 4, 2024, that it received a notice from the Nasdaq Global Select Market regarding its failure to comply with the minimum bid price requirement. This means MESA's stock price has been trading below $1.00 per share for 30 consecutive business days. This is a significant concern for investors because if MESA cannot regain compliance, its stock could be delisted from Nasdaq, making it harder to trade and potentially reducing its value.

Why It Matters

This notice signals potential delisting, which can severely impact stock liquidity and investor confidence, making it a critical event for current and prospective shareholders.

Risk Assessment

Risk Level: high — The risk of delisting is high, as it can lead to reduced liquidity and investor interest, significantly impacting the stock's value.

Analyst Insight

A smart investor would closely monitor MESA's stock price and any announcements regarding its plan to regain Nasdaq compliance, as delisting could significantly impair liquidity and valuation. Consider the potential for a reverse stock split and its implications.

Key Numbers

• $1.00 — Minimum Bid Price (The threshold MESA's stock price failed to meet for 30 consecutive business days.)
• 30 — Consecutive Business Days (The period MESA's stock traded below the minimum bid price.)

Key Players & Entities

• MESA AIR GROUP, INC. (company) — the registrant receiving the delisting notice
• Nasdaq Global Select Market (company) — the exchange that issued the delisting notice
• $1.00 (dollar_amount) — the minimum bid price requirement
• January 4, 2024 (date) — date of the earliest event reported and the delisting notice

Forward-Looking Statements

• Mesa Air Group, Inc. will implement a reverse stock split to regain Nasdaq compliance. (MESA AIR GROUP, INC.) — medium confidence, target: Within 180 days of January 4, 2024

FAQ

Filing Documents

• mesa-20240104.htm (8-K) — 58KB
• mesa-ex99_1.htm (EX-99.1) — 10KB
• 0000950170-24-003354.txt ( ) — 187KB
• mesa-20240104.xsd (EX-101.SCH) — 29KB
• mesa-20240104_htm.xml (XML) — 5KB

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 4, 2024, Mesa Air Group, Inc. (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 Annual Report on Form 10-K for the period ended September 30, 2023 (the “Form 10-K”) 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 filing delay is not the result of a forthcoming restatement of the Company’s financial statements or any disagreement with the Company’s auditors. The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Select Market. The Notice states that the Company has 60 calendar days from the date of the Notice, or March 4, 2024, to submit a plan to regain compliance with the Listing Rule. If Nasdaq accepts the Company’s plan to regain compliance, then Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of the Form 10-K, or June 26, 2024, to file the Form 10-K to regain compliance. The Company continues to work diligently to complete the Form 10-K and plans to file the Form 10-K well in advance of the 60-day Notice period and is expected this week to regain compliance with the Listing Rule.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A press release dated January 9, 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 Mesa Air Group, Inc., dated January 9 , 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, the Company’s ability to become current with its reports with the SEC, and the risk that the completion and filing of the Form 10-K will take longer than expected. For additional information about factors that could cause actual results to differ material

SIGNATURES

SIGNATURES 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. Mesa Air Group, Inc. Date: January 9, 2024 By: /s/ Brian S. Gillman Brian S. Gillman Executive Vice President and General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR