Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On July 27, 2020, RiceBran Technologies (the "Company") received a notice from
the listing qualifications department of The Nasdaq Stock Market LLC ("Nasdaq")
notifying the Company that for 30 consecutive business days, the bid price of
the Company's common stock has closed below the minimum $1.00 per share
requirement for continued inclusion under Marketplace Rule 5550(a)(2). This
notice has no immediate effect on the Company's Nasdaq listing or the trading of
its common stock.
In accordance with Nasdaq Marketplace Rule and 5810(c)(3)(A), the Company has a
period of 180 calendar days from the date of notification, or until January 25,
2021, to regain compliance with the minimum bid price requirement. If at any
time before January 25, 2021, the bid price of the Company's common stock closes
at or above $1.00 per share for a minimum of 10 consecutive business days,
Nasdaq will provide written notification that the Company has achieved
compliance with the minimum bid price requirement, and the matter would be
resolved. The notice letter also disclosed that if the Company does not regain
compliance within the initial compliance period, it may be eligible for an
additional 180-day compliance period. To qualify for additional time, the
Company would be required to meet the continued listing requirement for market
value of publicly held shares and all other initial listing standards for The
Nasdaq Capital Market, with the exception of the bid price requirement, and
would need to provide written notice of a plan to cure the deficiency during the
second compliance period, by effecting a reverse stock split, if necessary. If
the Company meets these requirements, Nasdaq will inform the Company that it has
been granted an additional 180 calendar days to regain compliance. However, if
it appears to the staff of Nasdaq that the Company will not be able to cure the
deficiency, or if the Company is otherwise not eligible, the staff would notify
the Company that it will not be granted additional 180 days for compliance and
will be subject to delisting at that time. In the event of such notification,
the Company may appeal the staff's determination to delist its securities.
There are no assurances that Nasdaq will grant extensions of time within which
to achieve compliance.
The Company's Board of Directors and management will consider available
strategies in an effort to satisfy the minimum bid price requirement.
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