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RedCloud Receives Expected Nasdaq Staff Delisting Determination and Files Appeal to Preserve Listing Pending Panel Hearing

RCT
  • RedCloud Holdings plc received a Staff Delisting Determination from Nasdaq on October 13, 2026, due to non-compliance with the Minimum Bid Price Rule requiring a $1.00 share price for 30 consecutive business days.
  • The Company is ineligible for a second 180-day compliance period because it lacks the required stockholders' equity to meet initial listing standards.
  • RedCloud has appealed the determination by requesting an oral hearing before the Nasdaq Hearings Panel, which has stayed the suspension or delisting of its shares pending the outcome.
  • The Company's securities will continue trading under the symbol "RCT" on the Nasdaq Capital Market while the appeal process is ongoing.
  • The Company plans to submit a written compliance commitment to the Hearings Panel that includes a reverse stock split.
  • A General Meeting has been scheduled for October 30, 2026, to seek shareholder approval for a share consolidation expected to become effective around November 13, 2026.
  • The actual effective date of the share consolidation may precede the hearing depending on the Hearings Panel's timeline.
  • RedCloud builds AI infrastructure for global FMCG trade, having processed over $8.4 billion in transactions across 100,000 customers & 6,700 brands since early 2023.
  • Justin Floyd serves as the Founder & Chief Executive Officer of the London-registered British company.