Professional Diversity Network Receives Delisting Notice from Nasdaq

Professional Diversity Network, Inc. (NASDAQ: IPDN) recently disclosed that on January 9, 2025, it received a letter from Nasdaq, indicating that the company had not met the compliance requirements of Nasdaq Listing Rule 5550(a)(2). This rule mandates that the closing bid price of a company’s common stock should not fall below $1.00 per share for at least 30 consecutive business days to maintain listing on The Nasdaq Capital Market.

In response to the notice received in June 2024, Professional Diversity Network was given a 180-day window until December 24, 2024, to regain compliance with the rule or risk delisting. Despite seeking an extension, Nasdaq informed the company on January 9, 2025, that it had not met the listing standards and, consequentially, did not qualify for an additional 180-day remediation period.

According to the letter received, unless a request for an appeal is made by January 16, 2025, Nasdaq is set to delist Professional Diversity Network’s securities, suspending them from trading at the commencement of business on January 21, 2025. This action would lead to the filing of a Form 25-NSE with the Securities and Exchange Commission, removing the company’s securities from listing and registration on Nasdaq.

Professional Diversity Network intends to lodge an appeal against Nasdaq’s decision before the deadline of January 16, 2025, by requesting an appeal with a Nasdaq Hearings Panel. If the appeal is requested, the delisting of the company’s common stock will be paused until the Nasdaq Hearings Panel reaches a decision. However, there are no guarantees that a favorable outcome will be achieved or that the company’s common stock will continue to be listed on The Nasdaq Capital Market.

This report includes forward-looking statements regarding the company’s plans to address the delisting determination, its ability to meet Nasdaq’s listing requirements, and the potential outcome of any appeal process. Professional Diversity Network has emphasized uncertainties and risks associated with these forward-looking statements, cautioning against placing undue reliance on them. The company commits to keep the public informed of any ensuing events or circumstances unless legally mandated otherwise.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Professional Diversity Network’s 8K filing here.

Professional Diversity Network Company Profile

Professional Diversity Network, Inc operates online professional networking communities with career resources in the United States. It operates through three segments: Professional Diversity Network (PDN Network), National Association of Professional Women (NAPW Network), and RemoteMore USA (RemoteMore).