Above Food regains full compliance with NASDAQ listing rules

REGINA - Above Food Ingredients Inc. (NASDAQ:ABVE), a small-cap company with a market capitalization of approximately $58 million, has received official confirmation of full compliance with NASDAQ listing requirements, the company announced Thursday.

The compliance determination letter confirms that Above Food now meets all requirements under Listing Rules 5450(b)(3)(C), 5810(c)(3)(A), and 5450(a)(1). The company regained compliance with the minimum market value requirement for publicly held shares on May 27, 2025, and met the minimum bid price requirement on May 23, 2025. The stock currently trades at $1.17, showing a remarkable year-to-date gain of 109%, though it remains significantly below its 52-week high of $12.50. InvestingPro analysis suggests the stock is currently overvalued.

This regulatory milestone clears the way for Above Food to proceed with its planned merger with Palm Global, which is expected to be completed in the coming days, according to the company.

"Achievement of full compliance marks a significant milestone as we continue to execute on our restructuring and ambitious growth plans," said Lionel Kambeitz, Executive Chairman and CEO of Above Food, in the press release.

Peter Knez, Chairman and CEO of Palm Global Technologies, stated that with NASDAQ compliance secured, the companies anticipate finalizing the merger soon.

Above Food Ingredients describes itself as an ingredient company focused on plant proteins with operations in primary agriculture and processing. Palm Global operates in financial products, AgTech and sustainability across multiple global markets.

The announcement follows Above Food’s recent restructuring efforts, which the company states have included eliminating corporate debt and transitioning toward profitability.

The information in this article is based on a press release statement from Above Food Ingredients Inc.

In other recent news, Above Food Ingredients has announced its compliance with NASDAQ’s Listing Rule 5450(b)(3)(C) regarding the minimum market value of publicly held shares as of May 27, 2025. This compliance marks a significant milestone for the company following a strategic restructuring aimed at enhancing shareholder value and operational efficiency. Additionally, Above Food Ingredients has met other NASDAQ listing standards, including maintaining the minimum bid price per share. The company is awaiting official confirmation from NASDAQ concerning its compliance status.

In another development, Above Food Ingredients is progressing with a proposed merger with Palm Global Technologies Ltd., a FinTech company specializing in AI, blockchain, and DeFi technologies. The executive management team of Above Food has endorsed the merger, which is expected to create substantial shareholder value and advance the company’s mission of building a sustainable global food system. This merger is subject to corporate and regulatory approvals and is seen as a strategic move to leverage Palm Global’s technology to transform global agriculture. Both announcements reflect Above Food Ingredients’ ongoing efforts to enhance its market position and operational capabilities.

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