Thirteen delisting notices in two days, and what each one means

Item 3.01 of Form 8-K has a long name: "Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing." It gets filed within four business days of an exchange telling a company it is out of compliance, or of the company deciding to leave. On September 3 and 4, thirteen companies we track filed one. Read together, they are a short course in the ways a stock leaves an exchange.

Share price under a dollar

Nasdaq Listing Rule 5550(a)(2) requires a closing bid of at least $1 for 30 consecutive business days. Miss it and you get 180 days to fix it, and often a second 180 if you meet the other standards.

Nixxy received that notice and filed on September 4. CXApp's filing traces the same road from further along: its first notice was September 11, 2025, the first 180 days ran out on March 10, 2026, and a reverse split is now on the table. SCWorx did the reverse split, 1 for 12 effective August 3, to satisfy a condition set by a Nasdaq Hearings Panel, and its filing is the next chapter of that story.

A reverse split fixes the bid price by arithmetic. It does not change what the company is worth.

Not enough equity on the balance sheet

Nasdaq's Capital Market wants at least $2.5 million of stockholders' equity, under Rule 5550(b)(1). The NYSE American has a similar ladder in Section 1003(a) of its Company Guide. The notice usually arrives right after a 10-Q, because the 10-Q is where the number is.

Arcadia Biosciences and Nexentis Technologies both got the Nasdaq version after their June 30 quarterly reports, and Arcadia's filing says it expected the letter. Matinas BioPharma got the NYSE American version and has a plan period to work through; its filing states plainly that if the plan is not met, "the NYSE American will initiate delisting proceedings." Quince Therapeutics disclosed a notice with the standard 180-day window as well.

The quarterly report is late

Rule 5250(c)(1) says file your periodic reports on time. Fly-E Group's notice is about a June 30 10-Q that had not been filed. Gulf Resources' filing is a status update: the March 10-Q is now in, Nasdaq confirmed it, and the June 10-Q is still outstanding, so the company remains out of compliance.

A late 10-Q is the notice worth reading most carefully. Bid prices and equity are numbers. A report that cannot be filed is usually a story.

It is not the stock

Archer Aviation's filing cites NYSE Section 802.01D, and it concerns the company's public warrants, which are expiring as scheduled. The common stock is not part of it. Warrant and rights symbols get their own 8-Ks, and a headline scanner that does not read the filing will call it a delisting of the company. It is not.

Pantages Capital Acquisition, a blank-cheque company, is working through a compliance plan under a Global Market rule, with a Hearings Panel as the fallback if Nasdaq does not accept it. That is a common shape for a SPAC that has not closed a deal.

The company was bought

Two of the thirteen are the good kind. LivePerson's 8-K records the close of its merger, the resignation of the whole board, and the removal of the stock from Nasdaq because there is no longer a public company. Apogee Therapeutics did the same on September 3, asking Nasdaq to keep its trading halt in place and file the Form 25 that takes it off the exchange. A Form 25 after a merger is a stock finishing, not failing.

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Where to find these

Every 8-K from a tracked filer is at /events, sorted so the serious items float up, and a delisting notice is one of the items that puts a company into Today's Signals. The list above is thirteen filings across two days; over the first two weeks of September, Item 3.01 showed up 13 times against 70 officer changes and 60 material agreements. Rare enough to read every one.

Opinion and personal record, not investment advice.