Urgent.ly Inc. Faces Delisting Concerns

TL;DR

URGN might get delisted, check the exchange rules.

AI Summary

Urgent.ly Inc. filed an 8-K on October 4, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The filing date for the report is September 30, 2024. The company is incorporated in Delaware and its principal executive offices are located in Vienna, VA.

Why It Matters

This filing indicates potential issues with Urgent.ly Inc.'s 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 poses a significant risk to the company's stock trading and overall financial stability.

Key Numbers

• 001-41841 — SEC File Number (Identifies the company's filing history with the SEC.)
• 46-2848640 — I.R.S. Employer Identification Number (Company's tax identification number.)

Key Players & Entities

• Urgent.ly Inc. (company) — Registrant
• 0000950170-24-112906 (filing_id) — Accession Number
• September 30, 2024 (date) — Date of earliest event reported
• October 4, 2024 (date) — Filing Date
• Delaware (jurisdiction) — State of incorporation
• Vienna, VA (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share ULY NASDAQ Indicate by
• $1.00 — e Company's common stock has been below $1.00 per share for 30 consecutive business d

Filing Documents

• uly-20240930.htm (8-K) — 46KB
• uly-ex99_1.htm (EX-99.1) — 15KB
• img120042339_0.jpg (GRAPHIC) — 5KB
• img120042339_1.jpg (GRAPHIC) — 5KB
• 0000950170-24-112906.txt ( ) — 204KB
• uly-20240930.xsd (EX-101.SCH) — 30KB
• uly-20240930_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 September 30, 2024, Urgent.ly Inc. (the "Company") received a notification letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq's Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"), because the minimum bid price of the Company's common stock has been below $1.00 per share for 30 consecutive business days (the "Notice"). The Notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until March 31, 2025, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period (the "Compliance Period"), unless Nasdaq exercises its discretion to extend this ten-day period. If the Company has not been deemed in compliance prior to the expiration of the Compliance Period, the Company may be eligible for an additional 180-day compliance period (the "Second Compliance Period"), provided that it meets the applicable market value of publicly held shares requirement for continued listing and all other initial listing standards for The Nasdaq Capital Market (with the exception of the Minimum Bid Price Requirement), and would need to provide written notice of its intention to cure the bid price deficiency during the Second Compliance Period. However, if it appears to Nasdaq that the Company will be unable to cure the deficiency, or if the Company is otherwise not eligible for the Second Compliance Period, Nasdaq would notify the Company that its common stock would be subject to delisting. The Company may appeal

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release dated October 4, 2024 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions you that statements included in this report that are not a description of historical facts are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the Company's ability to regain compliance with the Minimum Bid Price Requirement, the Company's intentions to monitor its closing bid price of its common stock and the Company's plans to consider implementing available options to regain compliance with the Minimum Bid Price Requirement. The Company's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of important risks and uncertainties, including without limitation the risk that the Company may not meet the Minimum Bid Price Requirement during any compliance period or in the future, the risk that the Company may not otherwise meet the requirements for continued listing under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, and the risk that the Company may not ultimately meet applicable Nasdaq requirements after such relief, if any, is granted, among other important risks and uncertainties. A further description of the risks and uncertainties relating to the business of the Company is contained in the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission. The Company undertakes no duty or obligation to update any forward-looking statements contained in this report as a result of new information, future events or changes in its expectations. 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 authorize

View Full Filing

View this 8-K filing on SEC EDGAR