The Real Good Food Company Announces Nasdaq Delisting
The Real Good Food Company (RGF) announced receiving a delisting notice from Nasdaq due to non-compliance with listing requirements, specifically failing to file periodic financial reports. Trading of RGF's common stock on Nasdaq will be suspended on January 7, 2025.
The company's shares are expected to transition to trading on the Pink Open Market (OTC), commonly known as 'pink sheets'. However, due to the company's filing delays, trading may eventually move to OTC's Expert Market, where stock quotes will not be publicly viewable.
La Real Good Food Company (RGF) ha annunciato di aver ricevuto una comunicazione di de-listing da Nasdaq a causa della non conformit脿 con i requisiti di quotazione, in particolare per non aver presentato rapporti finanziari periodici. La contrattazione delle azioni ordinarie di RGF su Nasdaq sar脿 sospesa il 7 gennaio 2025.
Si prevede che le azioni della societ脿 passeranno alla negoziazione sul Pink Open Market (OTC), comunemente conosciuto come 'pink sheets'. Tuttavia, a causa dei ritardi nelle presentazioni della societ脿, la negoziazione potrebbe eventualmente spostarsi sul Mercato Expert dell'OTC, dove le quotazioni delle azioni non saranno visibili pubblicamente.
La Real Good Food Company (RGF) anunci贸 haber recibido un aviso de deslisting de Nasdaq debido al incumplimiento de los requisitos de cotizaci贸n, espec铆ficamente por no presentar informes financieros peri贸dicos. La negociaci贸n de las acciones ordinarias de RGF en Nasdaq ser谩 suspendida el 7 de enero de 2025.
Se espera que las acciones de la empresa pasen a negociarse en el Pink Open Market (OTC), com煤nmente conocido como 'pink sheets'. Sin embargo, debido a los retrasos en las presentaciones de la empresa, la negociaci贸n podr铆a eventualmente trasladarse al Mercado Expert de OTC, donde las cotizaciones de las acciones no ser谩n visibles p煤blicamente.
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La Real Good Food Company (RGF) a annonc茅 avoir re莽u un avis de radiation de Nasdaq en raison du non-respect des exigences de cotation, en particulier pour ne pas avoir d茅pos茅 ses rapports financiers p茅riodiques. La n茅gociation des actions ordinaires de RGF sur Nasdaq sera suspendue le 7 janvier 2025.
Les actions de la soci茅t茅 devraient passer 脿 la n茅gociation sur le Pink Open Market (OTC), commun茅ment appel茅 'pink sheets'. Cependant, en raison des retards dans le d茅p么t des documents, la n茅gociation pourrait 茅ventuellement passer au March茅 Expert de l'OTC, o霉 les cotations des actions ne seront pas visibles publiquement.
Die Real Good Food Company (RGF) gab bekannt, dass sie eine Mitteilung 眉ber die Delistung von Nasdaq erhalten hat, da sie die Anforderungen an die Listung nicht erf眉llt hat, insbesondere weil sie periodische Finanzberichte nicht eingereicht hat. Der Handel mit den Stammaktien von RGF an der Nasdaq wird am 7. Januar 2025 ausgesetzt.
Es wird erwartet, dass die Aktien des Unternehmens auf dem Pink Open Market (OTC) gehandelt werden, der allgemein als 'pink sheets' bekannt ist. Aufgrund der Einreichungsverz枚gerungen des Unternehmens k枚nnte der Handel jedoch schlie脽lich auf den Expert Market des OTC verlagert werden, wo die Aktienkurse nicht 枚ffentlich einsehbar sind.
- None.
- Delisting from Nasdaq effective January 7, 2025
- Failure to file required periodic financial reports
- Demotion to OTC Pink Sheets trading
- Potential further demotion to Expert Market with restricted quote visibility
- Loss of mainstream market exposure and potential reduced liquidity
Insights
The timing is particularly concerning for a company in the competitive frozen foods sector where capital requirements for inventory, distribution and marketing are substantial. Market impact analysis indicates:
- Immediate loss of institutional investor base
- Reduced access to capital markets
- Higher borrowing costs
- Potential breach of debt covenants if any
For retail investors, the potential move to the Expert Market is especially problematic as it would effectively make the stock nearly impossible to trade for most individual investors. This development suggests serious underlying issues beyond mere reporting delays.
The migration to pink sheets and potentially to the Expert Market, triggers several critical legal considerations:
- Increased vulnerability to shareholder litigation due to potential value destruction
- Reduced transparency requirements could impact minority shareholder rights
- Possible SEC investigations regarding the failure to file timely reports
The lack of timely financial reporting could indicate deeper governance issues or potential violations of securities laws. Shareholders should be particularly vigilant about their rights and potential remedies under securities laws, as the transition to less regulated markets typically reduces investor protections and oversight mechanisms.
CHERRY HILL, N.J., Jan. 06, 2025 (GLOBE NEWSWIRE) -- (Nasdaq: RGF) (鈥淩eal Good Foods鈥� or the 鈥淐ompany 鈥�), a leading health and wellness frozen and refrigerated foods company, today announced that the Company received a notice from The Nasdaq Stock Market LLC ("Nasdaq") that it has determined to delist the Company's common stock on Nasdaq. The delisting is a result of the Company's failure to demonstrate compliance with Nasdaq Listing 5250(c)(1) for failure to file periodic financial reports. Trading in the Company's common stock on Nasdaq will be suspended on聽January 7, 2025. As a result of the foregoing, the Company's common stock is expected to commence trading on the Pink Open Market operated by the OTC Markets Group, Inc. (鈥淥TC鈥�), which is commonly referred to as the 鈥減ink sheets,鈥� commencing on January 7, 2025. However, given the Company鈥檚 situation with regards to the lack of timely filing, trading may ultimately move to OTC鈥檚 鈥淓xpert Market,鈥� where quotes for the Company鈥檚 common stock will no longer be available for public viewing.
About Real Good Food Company
Real Good Foods (Nasdaq: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company鈥檚 mission is to provide 鈥淩eal Food You Feel Good About Eating鈥�, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks 鈥� available in over 16,000 stores nationwide with additional direct-to-consumer options.
To learn more, please visit our website at or join us on social media @realgoodfoods 鈥� where we maintain some of the largest followings in the frozen food industry today.
Forward-Looking Statements
This press release contains 鈥渇orward-looking statements鈥� within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the commencement of trading by the Company鈥檚 common stock on the Pink Open Market operated by the OTC and the quoting of such common stock on the OTC鈥檚 鈥淓xpert Market.鈥澛燭he Company has attempted to identify forward-looking statements by using words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減redict,鈥� 鈥減roject,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� or 鈥渨ould,鈥� and similar expressions or the negative of these expressions.
Forward-looking statements represent management鈥檚 current expectations and predictions and are based on information available as of the time such statements are made. Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, it cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results or events, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause its actual results to materially differ from those expressed or implied by these forward-looking statements, including the risk of further delays in the filing of the Company鈥檚 late periodic reports and restated financial statements in amendments to prior periodic reports, the discovery of additional information regarding the errors identified in the Company鈥檚 previously issued consolidated financial statements, the scope of the anticipated restatement of previously issued financial statements as a result of the errors, the remediation by management and the Company鈥檚 independent registered public accounting firm of the identified material weaknesses in internal control over financial reporting, and other risk factors described in the section entitled 鈥淩isk Factors鈥� in its Annual Report on Form 10-K for the year ended December 31, 2022 and other documents filed with or furnished to the SEC by the Company from time to time. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.
Investor Relations Contact
The Real Good Food Company
3 Executive Campus, Suite 155
Cherry Hill, NJ 08002
FAQ
Why is The Real Good Food Company (RGF) being delisted from Nasdaq?
When will RGF stock stop trading on Nasdaq?
Where will RGF stock trade after Nasdaq delisting?
What happens to RGF shareholders after the delisting?
Will RGF stock quotes be publicly available after moving to OTC?
