http://archive.fast-edgar.com/20231108/A626L222ZZ22A99222TS2Z42N7GMZK22B252/
On November 3, 2023, Mesa Air Group, Inc. (the “Company”) received a notice in the form of a letter (“Deficiency Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the bid price for the Company’s shares of common stock had closed below $1.00 per share for the previous 30 consecutive business days (the “Minimum Bid Price Requirement”). The Deficiency Letter has no immediate impact on the listing of the Company’s shares of common stock, which will continue to be listed and traded on The Nasdaq Global Select Market under the symbol “MESA” at this time, subject to the Company’s compliance with the other continued listing requirements.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until May 1, 2024, to regain compliance with the Minimum Bid Price Requirement. If at any time before May 1, 2024, the bid price of the Company’s shares of common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance.
If the Company does not regain compliance with the Minimum Bid Price Requirement by May 1, 2024, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to transfer to The Nasdaq Capital Market and meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the Minimum Bid Price Requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. Following a transfer to The Nasdaq Capital Market, the Company expects that it would be afforded the second 180 calendar day period to regain compliance, unless it does not appear to Nasdaq that it is possible for the Company to cure the deficiency. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the compliance period (or the second compliance period, if applicable), the Company’s common stock will become subject to delisting. In the event that the Company receives notice that its common stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel.
The Company intends to actively monitor the closing bid price for the Company’s shares of common stock and may, if appropriate, evaluate available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. While the Company is exercising diligent efforts to maintain the listing of its shares of common stock on Nasdaq, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq’s listing standards.
The Company, by filing this Form 8-K, discloses its receipt of the Deficiency Letter regarding the Minimum Bid Price Requirement in accordance with Nasdaq Listing Rule 5810(b).
"Then there was a woman, a lion of a woman."
Recent MESA News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/24/2024 04:31:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 02:16:18 PM
- Mesa Air Group Reports First Quarter Fiscal 2024 Results • GlobeNewswire Inc. • 05/20/2024 11:05:00 AM
- Mesa Air Group Discloses Notice from Nasdaq • GlobeNewswire Inc. • 05/17/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 08:00:21 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/10/2024 08:00:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 08:30:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 05:32:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 05:30:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 05:27:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 05:25:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 05:21:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:15:16 PM
- Mesa Air Group Discloses Notice from Nasdaq • GlobeNewswire Inc. • 02/23/2024 09:05:00 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 02/09/2024 09:34:15 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 01/26/2024 06:29:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 02:24:55 PM
- Mesa Air Group Reports Fourth Quarter and Fiscal Full-Year 2023 Results • GlobeNewswire Inc. • 01/26/2024 02:22:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 09:49:00 PM
- Mesa Air Group Enters New Agreements with United Airlines for Improved Operating and Financing Terms and Provides Update on CRJ-900 Asset Sale Program • GlobeNewswire Inc. • 01/18/2024 09:20:00 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 01/10/2024 09:00:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 09:17:12 PM
- Mesa Air Group Discloses Notice from Nasdaq • GlobeNewswire Inc. • 01/09/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/02/2024 11:11:29 AM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 12/14/2023 08:53:57 PM
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