Wag! Group Co. (NASDAQ:PET), a provider of personal services for pet owners, is on notice from the Nasdaq Stock Market due to its market value of publicly held securities (MVPHS) falling below the required threshold.
The company, which does not maintain a physical headquarters and operates remotely, was informed on Monday that its MVPHS had been below the $15 million minimum for 30 consecutive business days, from November 13, 2024, to January 13, 2025.
This notice does not immediately affect the company's common stock listing and does not lead to an instant delisting from the Global Market. Wag! Group has until July 14, 2025, to meet the MVPHS requirement and avoid delisting. If compliance is not achieved by this deadline, the company may receive a notification of its securities being subject to delisting.
Previously, on September 27, 2024, Wag! Group was notified of failing to meet other continued listing requirements under Nasdaq's standards. While the company has the right to appeal any delisting decision, there is no guarantee that such an appeal would be successful or that the company will regain or maintain compliance with Nasdaq's listing criteria.
The information in this article is based on a recent SEC filing made by Wag! Group Co.
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