Snail, Inc. Delisted from Nasdaq
Ticker: SNAL · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1886894
| Field | Detail |
|---|---|
| Company | Snail, Inc. (SNAL) |
| Form Type | 8-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, stock-exchange
TL;DR
Snail, Inc. got kicked off Nasdaq for low stock price, trading halted.
AI Summary
Snail, Inc. filed an 8-K on June 27, 2024, to report its delisting from the Nasdaq Capital Market. The company was notified by Nasdaq on June 21, 2024, that it failed to meet the minimum bid price requirement for continued listing, and its securities were suspended from trading on June 26, 2024. Snail, Inc. does not intend to appeal the determination.
Why It Matters
This delisting means Snail, Inc. securities will no longer trade on the Nasdaq Capital Market, impacting liquidity and potentially investor confidence.
Risk Assessment
Risk Level: high — Delisting from a major exchange like Nasdaq significantly increases risk due to reduced liquidity and investor access.
Key Players & Entities
- Snail, Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Exchange from which delisted
- June 27, 2024 (date) — Date of Report
- June 21, 2024 (date) — Date of Nasdaq Notification
- June 26, 2024 (date) — Date of Trading Suspension
FAQ
What was the primary reason for Snail, Inc.'s delisting from the Nasdaq Capital Market?
Snail, Inc. was notified by Nasdaq that it failed to meet the minimum bid price requirement for continued listing.
When did Nasdaq notify Snail, Inc. of its non-compliance?
Nasdaq notified Snail, Inc. on June 21, 2024.
When were Snail, Inc.'s securities suspended from trading?
Snail, Inc.'s securities were suspended from trading on June 26, 2024.
Does Snail, Inc. plan to appeal Nasdaq's delisting determination?
No, Snail, Inc. does not intend to appeal the determination.
What is the filing date of this 8-K report?
The filing date of this 8-K report is June 27, 2024.
Filing Stats: 797 words · 3 min read · ~3 pages · Grade level 12.4 · Accepted 2024-06-28 16:05:28
Key Financial Figures
- $0.0001 — ch registered Class A Common Stock, $0.0001 par value per share SNAL The Nasdaq
- $0.001 — r the Company's common stock, par value $0.001 per share (the "Common Stock"), had clo
- $1.00 — n Stock"), had closed below the minimum $1.00 per share requirement for continued inc
Filing Documents
- form8-k.htm (8-K) — 38KB
- 0001493152-24-025604.txt ( ) — 208KB
- snal-20240627.xsd (EX-101.SCH) — 3KB
- snal-20240627_lab.xml (EX-101.LAB) — 33KB
- snal-20240627_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SNAIL, INC. Date: June 28, 2024 By: /s/ Xuedong Tian Name: Xuedong Tian Title: Co-Chief Executive Officer