XBP Europe Holdings Faces Delisting Concerns

TL;DR

XBP Europe Holdings might get delisted, check the rules.

AI Summary

XBP Europe Holdings, Inc. filed an 8-K on September 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as CF Acquisition Corp. VIII, is incorporated in Delaware and has its principal business address in Irving, Texas.

Why It Matters

This filing indicates potential issues with XBP Europe Holdings' 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 health.

Key Players & Entities

• XBP Europe Holdings, Inc. (company) — Registrant
• CF Acquisition Corp. VIII (company) — Former Company Name
• August 30, 2024 (date) — Earliest event reported
• September 5, 2024 (date) — Filing Date
• Delaware (jurisdiction) — State of Incorporation
• Irving, TX (location) — Business Address

FAQ

Key Financial Figures

• $0.0001 — ch Registered Common Stock, Par Value $0.0001 per share XBP The Nasdaq Global Mar
• $11.50 — of common stock at an exercise price of $11.50 XBPEW The Nasdaq Capital Market Ch
• $50 million — isted Securities ("MVLS") was below the $50 million minimum MVLS requirement for continued
• $15 million — reported non-compliance with the NGM's $15 million market value of publicly held shares st

Filing Documents

• xbp-20240830x8k.htm (8-K) — 43KB
• 0001558370-24-012599.txt ( ) — 198KB
• xbp-20240830.xsd (EX-101.SCH) — 4KB
• xbp-20240830_def.xml (EX-101.DEF) — 14KB
• xbp-20240830_lab.xml (EX-101.LAB) — 20KB
• xbp-20240830_pre.xml (EX-101.PRE) — 14KB
• xbp-20240830x8k_htm.xml (XML) — 7KB

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 30, 2024, XBP Europe Holdings, Inc. (the "Company") received written notice (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days prior to the date of the Notification Letter, the Company's Market Value of Listed Securities ("MVLS") was below the $50 million minimum MVLS requirement for continued listing on The Nasdaq Global Market ("NGM") under Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Rule"). The Notification Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities. The Notification Letter does not impact the Company's listing on the NGM at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company will have 180 calendar days, or until February 26, 2025 (the "Compliance Date"), to regain compliance with the MVLS Rule. To regain compliance with the MVLS Rule, the Company's MVLS must equal or exceed $50 million for a minimum of ten consecutive business days at any time prior to the Compliance Date. If the Company regains compliance with the MVLS Rule, Nasdaq will provide the Company with written confirmation and will close the matter. In the event that the Company does not regain compliance with the MVLS Rule by the Compliance Date, Nasdaq will provide written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notification Letter notes that the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (the "NCM") provided that it then satisfies the requirements for continued listing on that market. On September 4, 2024, the Company made a formal application to Nasdaq to transfer its listing fro

View Full Filing

View this 8-K filing on SEC EDGAR