PetMed Express Reports Listing Standard Failure, Transfer of Listing

Ticker: PETS · Form: 8-K · Filed: 2024-02-15T00:00:00.000Z

Sentiment: bearish

Topics: listing-compliance, regulatory-filing, transfer-of-listing

TL;DR

**PetMed Express is facing a listing issue, potentially moving exchanges due to non-compliance.**

AI Summary

PetMed Express, Inc. filed an 8-K on February 15, 2024, reporting an event that occurred on February 13, 2024. The filing indicates a "Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard" and a "Transfer of Listing." This suggests the company is addressing issues related to its stock exchange listing requirements.

Why It Matters

A notice of delisting or failure to meet listing standards can signal financial or operational distress, potentially impacting investor confidence and the company's ability to raise capital on major exchanges.

Risk Assessment

Risk Level: high — Failure to meet listing standards and a potential transfer of listing indicate significant regulatory and operational challenges that can negatively impact stock liquidity and investor perception.

Key Players & Entities

FAQ

What is the primary event reported in this 8-K filing by PetMed Express, Inc.?

The primary event reported is a "Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing" as per the Item Information.

When did the earliest event reported in this 8-K occur?

The earliest event reported occurred on February 13, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.

What is the full legal name of the registrant filing this 8-K?

The exact name of the registrant as specified in its charter is PetMed Express, Inc.

What is the Commission File Number for PetMed Express, Inc.?

The Commission File Number for PetMed Express, Inc. is 000-28827.

What is the business address of PetMed Express, Inc.?

The business address of PetMed Express, Inc. is 420 South Congress Avenue, Delray Beach, Florida 33445.

From the Filing

0001040130-24-000010.txt : 20240215 0001040130-24-000010.hdr.sgml : 20240215 20240215112005 ACCESSION NUMBER: 0001040130-24-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240213 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240215 DATE AS OF CHANGE: 20240215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETMED EXPRESS INC CENTRAL INDEX KEY: 0001040130 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 650680967 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28827 FILM NUMBER: 24642784 BUSINESS ADDRESS: STREET 1: 420 SOUTH CONGRESS AVENUE CITY: DELRAY BEACH STATE: FL ZIP: 33445 BUSINESS PHONE: (561) 426-4444 MAIL ADDRESS: STREET 1: 420 SOUTH CONGRESS AVENUE CITY: DELRAY BEACH STATE: FL ZIP: 33445 8-K 1 pets-20240213.htm 8-K pets-20240213 0001040130 FALSE 0001040130 2024-02-15 2024-02-15 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM  8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  February 13, 2024 PetMed Express, Inc. (Exact name of registrant as specified in its charter) Florida 000-28827 65-0680967 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 420 South Congress Avenue , Delray Beach , Florida 33445 (Address of principal executive offices) (Zip Code) ( 561 )  526-4444 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.001 per share PETS NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed in the Notification of Late Filing on Form 12b-25 of PetMed Express, Inc. (the “Company”) filed with the Securities and Exchange Commission (the “SEC”) on February 9, 2024, the Company determined that it was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023 (the “Form 10-Q”) by the prescribed due date as a result of the restatement of certain of the Company’s financial statements (the “Restatement”). The Restatement is more fully described in the Company’s Current Report on Form 8-K filed with the

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