XBP Europe Holdings Faces Delisting Notice
Ticker: XBPEW · Form: 8-K · Filed: Oct 24, 2024 · CIK: 1839530
| Field | Detail |
|---|---|
| Company | Xbp Europe Holdings, Inc. (XBPEW) |
| Form Type | 8-K |
| Filed Date | Oct 24, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50, $50 million, $15,000,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
XBP Europe Holdings got a delisting warning, stock might be in trouble.
AI Summary
XBP Europe Holdings, Inc. filed an 8-K on October 24, 2024, reporting a notice of delisting or failure to satisfy continued listing rules as of October 18, 2024. The company was formerly known as CF Acquisition Corp. VIII and is incorporated in Delaware.
Why It Matters
This filing indicates potential issues with XBP Europe Holdings' continued listing on an exchange, which could impact its stock liquidity 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 future viability.
Key Numbers
- 001-40206 — SEC File Number (Identifies the company's filing with the SEC.)
- 85-2002883 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- XBP Europe Holdings, Inc. (company) — Registrant
- CF Acquisition Corp. VIII (company) — Former Company Name
- October 18, 2024 (date) — Earliest event date
- October 24, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
FAQ
What specific listing rule or standard has XBP Europe Holdings, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that was not met, only that a notice of delisting or failure to satisfy a continued listing rule or standard was issued.
What is the immediate consequence of this notice for XBP Europe Holdings, Inc. stock?
The filing indicates a potential delisting, which could lead to the stock no longer being traded on its current exchange.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated October 18, 2024.
What was XBP Europe Holdings, Inc. previously named?
XBP Europe Holdings, Inc. was formerly named CF Acquisition Corp. VIII.
Where is XBP Europe Holdings, Inc. incorporated?
XBP Europe Holdings, Inc. is incorporated in Delaware.
Filing Stats: 1,104 words · 4 min read · ~4 pages · Grade level 14.5 · Accepted 2024-10-24 16:05:26
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
- $15,000,000 — 2)(C) sets forth a MVPHS Requirement of $15,000,000, and Nasdaq Listing Rule 5810(c)(3)(D)
Filing Documents
- xbp-20241018x8k.htm (8-K) — 45KB
- 0001558370-24-013618.txt ( ) — 199KB
- xbp-20241018.xsd (EX-101.SCH) — 4KB
- xbp-20241018_def.xml (EX-101.DEF) — 14KB
- xbp-20241018_lab.xml (EX-101.LAB) — 20KB
- xbp-20241018_pre.xml (EX-101.PRE) — 14KB
- xbp-20241018x8k_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. As previously disclosed on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on September 5, 2024, XBP Europe Holdings, Inc. (the "Company") received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that 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 under Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Deficiency Matter"). On October 18, 2024, the Company was informed by Nasdaq that because the Company satisfies the $50 million in total assets and total revenue requirement under Nasdaq Listing Rule 5450(b)(3)(A), an alternative method of compliance with the continued listing requirements set forth in Nasdaq Listing Rule 5450(b), the MVLS Deficiency Matter is now resolved. Also, as previously disclosed on a Current Report on Form 8-K filed with the SEC on April 24, 2024, the Company received a deficiency letter from Nasdaq notifying the Company that the listing of its common stock was not in compliance with the minimum Market Value of Publicly Held Shares requirement (the "MVPHS Requirement") set forth in Nasdaq Listing Rule 5450(b)(2)(C) for continued listing on Nasdaq. Nasdaq Listing Rule 5450(b)(2)(C) sets forth a MVPHS Requirement of $15,000,000, and Nasdaq Listing Rule 5810(c)(3)(D) provides that a failure to meet the minimum MVPHS Requirement exists if the deficiency continues for a period of 30 consecutive business days. As of the date of this Current Report on Form 8-K, the Company remains out of compliance with the MVPHS Requirement. On October 18, 2024, the Company received written notice (the "Delisting Determination Letter") from Nasdaq stating that the Company has not regained compliance with the MVPHS Requirement.