Wag! group co. chief marketing officer sells $5,587 in stock

Patrick McCarthy, Chief Marketing Officer at Wag! Group Co. (NASDAQ:PET), sold shares totaling $5,587, according to a recent SEC filing. The stock has shown mixed performance, with strong returns over the past three months despite recent volatility, according to InvestingPro data. The transactions, which took place on February 19, involved selling 18,580 shares of common stock at prices ranging from $0.30 to $0.31 per share. These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by the company’s incentive plans. Following these sales, McCarthy holds 680,920 shares directly. The company faces some financial challenges, with InvestingPro analysis showing rapid cash burn and short-term obligations exceeding liquid assets. Get access to 16+ additional ProTips and comprehensive financial analysis with InvestingPro.

In other recent news, Wag! Group Co. has received a notice from the Nasdaq Stock Market concerning its market value of publicly held securities (MVPHS), which has fallen below the required $15 million threshold. The company has been informed that its MVPHS was below this minimum for 30 consecutive business days, from November 13, 2024, to January 13, 2025. Although this notice does not immediately affect the company’s stock listing, Wag! Group has until July 14, 2025, to comply with the MVPHS requirement to avoid delisting. If the company fails to meet this requirement by the deadline, it may face a notification indicating its securities are subject to delisting. Previously, the company was notified on September 27, 2024, of failing to meet other continued listing requirements under Nasdaq’s standards. Wag! Group has the right to appeal any delisting decision, but there is no assurance of success in such an appeal or in regaining compliance with Nasdaq’s listing criteria. These developments were disclosed in a recent SEC filing by Wag! Group Co.

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