Staffing 360 Solutions Faces Delisting from NASDAQ Following Continued Listing Deficiency

Staffing 360 Solutions, Inc. (NASDAQ:STAF) recently received a notification on February 11, 2025, from the Nasdaq Stock Market LLC, stating that the company is faced with delisting due to its inability to comply with the terms set forth by the Nasdaq Hearings Panel. The decision to delist the company comes after Staffing 360 Solutions was unable to rectify its listing deficiency by the specified deadline of February 10, 2025. Consequently, trading in the company’s common stock, valued at $0.00001 per share, will be suspended starting from the opening of trading on February 13, 2025.

The compliance issue stemmed from a previous notification received by the company on June 20, 2024, from the Listing Qualifications Department of the Nasdaq Stock Market. This notice highlighted that Staffing 360 Solutions was no longer meeting the minimum stockholders’ equity requirement necessary for continued listing on the Nasdaq Capital Market. The regulation stipulates that listed companies must maintain a stockholders’ equity of at least $2,500,000, a requirement that the company failed to meet.

Following the submission of a plan aimed at regaining compliance with the Minimum Stockholders’ Equity Requirement on June 14, 2024, and August 5, 2024, the company, on August 13, 2024, received a notice denying its request for continued listing on Nasdaq. Despite subsequent appeals and a temporary reprieve granted by the Panel on October 8, 2024, the company was unable to meet the milestones outlined by Nasdaq, leading to the current delisting decision.

Staffing 360 Solutions has the option to request a review of the delisting decision by the Nasdaq Listing and Hearing Review Council within 15 days of the Decision Letter, to potentially reverse the decision.

In a separate development, the company’s special meeting of stockholders, convened on February 3, 2025, and adjourned to February 10, 2025, witnessed the approval of the Adjournment Proposal aimed at soliciting additional proxies for the approval of the Merger Agreement Adoption Proposal. The reconvening of the Special Meeting is set for February 12, 2025, to allow for further voting on the Merger Agreement Adoption Proposal.

Shareholders who were on record by January 8, 2025, will have the opportunity to attend and vote at the reconvened Special Meeting using the established voting process. The company has clarified that the record date for the Special Meeting will remain unchanged for the forthcoming voting session.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Staffing 360 Solutions’s 8K filing here.

Staffing 360 Solutions Company Profile

Staffing 360 Solutions, Inc engages in the provision of based staffing services and the acquisition and management of staffing companies in the information technology, financial, accounting, healthcare and cyber security industries. It operates through the following segments: Commercial Staffing, Professional Staffing-US and Professional Staffing-UK.