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DallasNews Corporation (NASDAQ:DALN) received a notice from The Nasdaq Stock Market LLC on Wednesday, February 19, 2025, granting the company an extension to meet the Nasdaq’s Stockholders’ Equity Requirement by May 15, 2025. This decision follows a series of communications between DallasNews Corp and Nasdaq regarding the company’s compliance with listing rules.
The initial notification of non-compliance was issued on June 3, 2024, when DallasNews Corp’s stockholders’ equity fell below the required $2.5 million mark. Despite a brief period of compliance in July 2024, the company’s Quarterly Report for September 30, 2024, showed a stockholders’ equity deficit of $(576,000), leading to another notice of non-compliance on November 19, 2024.
The extension is contingent upon DallasNews Corp demonstrating its ability to meet the equity requirement by the newly set deadline. Failure to do so could result in the company’s shares being delisted from the Nasdaq exchange. The company’s management has expressed intentions to comply with the Nasdaq rules and cure any deficiencies in meeting the Stockholders’ Equity Requirement.
This information is based on a press release statement from DallasNews Corp and includes forward-looking statements regarding the company’s plans to maintain compliance with Nasdaq’s listing requirements. These statements are subject to risks and uncertainties, as detailed in the company’s SEC filings, including potential delisting from the Nasdaq Capital Market.
Investors are advised to consider the risks associated with the company’s ability to maintain compliance with Nasdaq’s listing requirements as they monitor DallasNews Corp’s progress toward meeting the Stockholders’ Equity Requirement by the May 2025 deadline.
In other recent news, DallasNews Corporation has entered into a definitive agreement to sell its North Plant Property in Plano, Texas. This sale involves the company’s print facility and surrounding land, with the transaction expected to close by February 28, 2025. The amended terms of the agreement include a $600,000 escrow deposit to cover potential environmental remediation costs.
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