InterGroup receives Nasdaq extension to regain compliance with market value rule

The InterGroup Corporation (NASDAQ:INTG) announced Wednesday that it has received an extension from the Nasdaq Hearings Panel to regain compliance with the exchange’s minimum market value requirement. The information was disclosed in a press release statement based on a recent SEC filing.

According to the filing, the Nasdaq Listing Qualifications Department notified InterGroup on November 21, 2024, that the company’s market value of listed securities had fallen below the $35 million minimum required under Listing Rule 5550(b)(2) for 30 consecutive trading days. InterGroup was given 180 calendar days, until May 20, 2025, to restore compliance.

As the company did not meet the compliance criteria by that deadline, Nasdaq staff informed InterGroup on May 27, 2025, that its securities would be subject to delisting from the Nasdaq Capital Market and suspended from trading effective June 5, 2025, unless an appeal was filed. Nasdaq also indicated it would file a Form 25-NSE with the Securities and Exchange Commission.

InterGroup submitted a timely appeal under Nasdaq Listing Rule 5800 Series, and a hearing took place before the Nasdaq Hearings Panel on July 8, 2025. On July 17, 2025, the panel notified the company that it had granted an extension. InterGroup must now demonstrate compliance by achieving a market value of listed securities of at least $35 million for ten consecutive trading days on or before September 30, 2025.

The company stated that management is pursuing initiatives to enhance market visibility and shareholder value as part of efforts to regain compliance. These include communicating its strategic outlook and the value of its real estate assets, which are recorded at historical cost under generally accepted accounting principles. InvestingPro analysis indicates the company maintains a FAIR financial health score, with liquid assets exceeding short-term obligations (current ratio: 1.26). InvestingPro subscribers have access to 7 additional key insights about INTG’s valuation and financial position.

The company’s common stock continues to be listed on the Nasdaq Capital Market under the symbol INTG. All information is based on a press release statement and an SEC filing.

In other recent news, The InterGroup Corporation held its Annual Meeting of Shareholders. During the meeting, shareholders voted on the election of two Class A Directors. John V. Winfield was elected with 1,548,054 votes in favor, while 1,818 votes were withheld, alongside 166,973 broker non-votes. Steve H. Grunwald also secured his position with 1,544,296 votes for and 5,576 withheld, with the same number of broker non-votes as Winfield. These developments are part of the company’s routine governance activities, reflecting shareholder participation in corporate decisions. The meeting was held at the Hilton San Francisco Financial District. This event marks a significant moment for the company as it continues its operations in the apartment buildings sector.

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