Siebert Financial (SIEB) Receives Nasdaq Delisting Notice

TL;DR

**SIEB got a delisting notice from Nasdaq, watch for impact on stock trading.**

AI Summary

Siebert Financial Corp. (SIEB) announced on January 5, 2024, that it received a notice from The Nasdaq Capital Market regarding its failure to satisfy a continued listing rule or standard. This means Nasdaq is questioning whether SIEB's stock should remain listed on their exchange. This matters to investors because delisting could make it harder to buy or sell SIEB shares, potentially reducing their value and liquidity.

Why It Matters

A potential delisting from Nasdaq could significantly reduce the liquidity and market visibility of Siebert Financial's stock, making it less attractive to investors.

Risk Assessment

Risk Level: high — A delisting notice from a major exchange like Nasdaq poses a significant risk to a company's stock liquidity and investor confidence.

Analyst Insight

A smart investor would closely monitor Siebert Financial Corp.'s subsequent filings for details on how they plan to address the Nasdaq delisting notice and assess the potential impact on the company's operations and stock value.

Key Players & Entities

• Siebert Financial Corp. (company) — the registrant receiving the delisting notice
• Nasdaq Capital Market (company) — the exchange issuing the delisting notice
• January 5, 2024 (date) — date of the earliest event reported regarding the delisting notice
• SIEB (company) — trading symbol for Siebert Financial Corp.

Forward-Looking Statements

• Siebert Financial Corp. will likely issue a plan to regain compliance with Nasdaq listing standards. (Siebert Financial Corp.) — medium confidence, target: Q1 2024
• The stock price of SIEB may experience increased volatility due to uncertainty surrounding its listing status. (SIEB) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock - $0.01 par value SIEB The Nasdaq Capital M

Filing Documents

• ea191554-8k_siebert.htm (8-K) — 28KB
• 0001213900-24-003283.txt ( ) — 195KB
• sieb-20240105.xsd (EX-101.SCH) — 3KB
• sieb-20240105_lab.xml (EX-101.LAB) — 33KB
• sieb-20240105_pre.xml (EX-101.PRE) — 22KB
• ea191554-8k_siebert_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 5, 2024, Siebert Financial Corp. (the "Company") received a letter from Nasdaq Regulation, dated January 5, 2024, notifying it that because the Company has not held an annual meeting of shareholders within twelve months of the end of the Company's fiscal year end, it no longer complies with Nasdaq's Listing Rules (the "Rules") for continued listing, including Listing Rules 5620(a). Under the Rules, the Company has 45 calendar days to submit a plan to regain compliance, and if Nasdaq accepts the Company's plan, Nasdaq can grant an exception of up to 180 calendar days from the fiscal year end, or until June 28, 2024, to regain compliance. In determining whether to accept the Company's plan, Nasdaq will consider such things as the likelihood that the annual meeting can be held within the 180 day period, the Company's past compliance history, the reasons for the delayed meeting, other corporate events that may occur within Nasdaq's review period, the Company's overall financial condition and its public disclosures. As previously disclosed in the Company's Current Report on Form 8-K, filed December 20, 2023, on December 19, 2023, the Company entered into a Termination and Settlement Agreement with Kakaopay Corporation, Kakaopay Securities Corp., Muriel Siebert & Co., and certain Gebbia parties named therein, pursuant to which the parties mutually agreed to terminate the Second Tranche Stock Purchase Agreement entered into on April 27, 2023. Because the Second Tranche Stock Purchase Agreement was conditioned upon, among other things, shareholder approval of the agreement, prior to terminating the agreement, the Company postponed its Annual Meeting in anticipation of including at its next Annual Meeting a proposal relating to the Second Tranche Stock Purchase Agreement. As a result of the termination of the Second Tranche Stock Purchase Agreement, th

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed with this Report. Ex. No Description of Exhibits 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

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 thereunto duly authorized. Dated: January 12, 2024 SIEBERT FINANCIAL CORP. By /s/ John J. Gebbia John J. Gebbia Chief Executive Officer (Principal executive officer) By /s/ Andrew H. Reich Andrew H. Reich Executive Vice President, Chief Operating Officer, Chief Financial Officer, and Secretary (Principal financial and accounting officer) 2

View Full Filing

View this 8-K filing on SEC EDGAR