Nasdaq to Delist Functional Brands, Trading Suspended Tomorrow Due to Low Bid Price
MEHA is trading near its 52-week low of $0.039 (2.1% below the low) on light trading volume (0.1× avg).
Summary
Functional Brands Inc. has received a Nasdaq Staff Delisting Determination, with trading of its common stock to be suspended at the opening of business on June 16, 2026. This action stems from the company's failure to maintain a closing bid price above $0.10 for ten consecutive trading days. The company had previously warned about delisting risks and sought shareholder approval for a reverse stock split to regain compliance, as detailed in April and May filings. An 8-K filed today also confirms this immediate delisting. Delisting will severely restrict liquidity and access to capital markets, pushing the stock to the OTC market. While the company may appeal the decision, a timely request will not stay the trading suspension.
At the time of this announcement, MEHA was trading at $0.04 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.8M. The 52-week trading range was $0.04 to $8.00. This news item was assessed with negative market sentiment and an importance score of 10 out of 10. Source: TMX Newsfile.