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Moolec Science SA (NASDAQ:MLEC), a Luxembourg-based company with a market capitalization of $22.3 million and current stock price of $0.58, has been granted a temporary exception by the Nasdaq Hearings Panel to regain compliance with the exchange’s minimum bid price requirement, the company disclosed in a recent regulatory filing. The extension sets a deadline of May 30, 2025, for the company to execute a reverse stock split and maintain a closing bid price of at least $1 for ten consecutive business days.
The decision came after Moolec received a notice on Monday, April 3, 2025, outlining the conditions for maintaining its listing on the Nasdaq exchange, including achieving shareholder approval for the reverse stock split by April 22, 2025. According to InvestingPro data, the company faces significant financial challenges, with a weak financial health score of 1.6 out of 5 and rapidly declining cash reserves. The company’s board of directors had already planned to call an extraordinary shareholders meeting to vote on the reverse stock split and other matters, scheduled for the same day.
If Moolec fails to meet the Nasdaq’s requirement by the given deadline, its securities will face delisting. The company is expected to keep Nasdaq informed of any significant developments during this period that might affect its ability to comply with the Nasdaq’s rules.
Moolec, which operates under the industry classification of "blank checks" and is known for its "04 Manufacturing" designation, must now focus on securing shareholder support for the reverse stock split to sustain its listing status. The company’s management, led by CEO Gastón Paladini, is tasked with navigating this regulatory compliance issue as they continue their business operations.
This news is based on a statement from a press release by Moolec Science SA. For deeper insights into Moolec’s financial situation and comprehensive analysis, including 17 additional ProTips and detailed financial metrics, visit InvestingPro to access the full research report.
In other recent news, Moolec Science SA is facing the possibility of being delisted from The Nasdaq Global Market due to its failure to meet the minimum bid price requirement of $1.00 over a 30-day period. The company has been notified by Nasdaq’s Listing Qualifications Department and must appeal this determination by March 18, 2025, to avoid delisting on March 20, 2025. Moolec Science has initiated an appeal and is planning a reverse share split to regain compliance with Nasdaq’s Listing Rule 5550(a)(2). The company’s board of directors has decided to call an extraordinary shareholders meeting to vote on this proposed reverse share split. Moolec Science is actively working to meet Nasdaq’s requirements and is in communication with the exchange’s staff regarding these efforts. However, there is no assurance that the company will receive an extension from the Hearings Panel or meet the compliance criteria within any granted extension period. These developments are based on a press release statement from Moolec Science SA.
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