Nasdaq Issues Delisting Determination; RedCloud Appeals and Plans Reverse Split

Updates

1. Oct 15, 10:58 AM ET · SEC 6-K — RedCloud will submit a compliance plan with a reverse stock split, seek shareholder approval on October 30, 2026, and expects the consolidation effective on or about November 13, 2026.

   • Delisting Determination
     • Nasdaq Staff Delisting Determination received October 13, 2026, citing non-compliance with Nasdaq Listing Rule 5550(a)(2), requiring a minimum bid price of at least $1.00 per share.
   • Appeal and Stay — RedCloud appealed by requesting an oral hearing before the Nasdaq Hearings Panel, which stayed suspension or delisting pending the decision; ordinary shares continue to trade on the Nasdaq Capital Market under the symbol "RCT".
   • Compliance Plan — The company will submit a written plan of compliance to the Hearings Panel, including a commitment to effect a reverse stock split; shareholder approval is sought at a General Meeting on October 30, 2026, with the share consolidation expected effective on or about November 13, 2026.
   • Shareholder Meeting — The Board of Directors convened a General Meeting for October 30, 2026, to seek shareholder approval for a share consolidation, expected to be effective on or about November 13, 2026.
   • Compliance Eligibility — RedCloud is not eligible for a second 180-day compliance period because it lacks the stockholders' equity required to meet initial listing standards.
   All 8 details

   • Company will submit to the Hearings Panel a written plan of compliance, including a commitment to effect a reverse stock split.
   • Board of Directors convened a General Meeting scheduled for October 30, 2026, to seek shareholder approval to effect a share consolidation.
   • If approved by shareholders, the share consolidation is expected to be effective on or about November 13, 2026.
   • Company is not eligible for a second 180-day compliance period because it lacks the stockholders' equity required to meet the initial listing standards.
   • Ordinary shares continue to trade in the normal manner on the Nasdaq Capital Market under the symbol "RCT" pending the hearing and decision of the Panel.
   • Nasdaq Staff Delisting Determination received October 13, 2026, citing non-compliance with Nasdaq Listing Rule 5550(a)(2), requiring a minimum bid price of at least $1.00 per share.
   • Company appealed by filing a request for an oral hearing before the Nasdaq Hearings Panel; the request stayed suspension of trading or delisting pending the hearing and the Panel's decision.
   • Company will submit a written plan of compliance, including a commitment to effect a reverse stock split; shareholder approval sought at a General Meeting on October 30, 2026, with the share consolidation expected effective on or about November 13, 2026.

2. Oct 15, 3:32 AM ET · Benzinga — RedCloud shares rose 18.40% to $0.13 in after-hours trading following the delisting determination.

   • Bid Price Deficiency — A bid price deficiency exists once it continues for 30 consecutive business days. RedCloud is not eligible for a second 180-day compliance period.
   • Share Consolidation — If approved, the share consolidation is expected to take effect on or about Nov. 13 and could happen before the hearing.
   • Share Price — Shares closed on Wednesday at $0.11, up 8.27%.
   • Listing Standards — The company lacks the stockholders’ equity needed to meet initial listing standards.
   All 5 details

   • A bid price deficiency exists once it continues for 30 consecutive business days.
   • RedCloud is not eligible for a second 180-day compliance period.
   • If approved, the share consolidation is expected to take effect on or about Nov. 13 and could happen before the hearing.
   • Shares closed on Wednesday at $0.11, up 8.27%.
   • The company lacks the stockholders’ equity needed to meet initial listing standards.