Snail, Inc. Receives Nasdaq Delisting Notice; Implements 1-for-5 Reverse Stock Split

summarizeSummary

Snail, Inc. received a delisting notice from Nasdaq for failing to meet listing requirements and is implementing a 1-for-5 reverse stock split to attempt to regain compliance.

check_boxKey Events · Corporate Governance and Compliance · SNAL

• Nasdaq Delisting Notice Received

  Snail, Inc. received a notice from Nasdaq on July 1, 2026, stating a determination to delist its Class A Common Stock.

• Failure to Meet Listing Standards

  The company failed to regain compliance with the $1.00 minimum bid price requirement by June 29, 2026, and is not eligible for a second 180-day period due to non-compliance with other Nasdaq listing standards (minimum stockholders' equity, market value of listed securities, or net income).

• 1-for-5 Reverse Stock Split Implemented

  To address the minimum bid price requirement, the company is implementing a 1-for-5 reverse stock split, effective July 2, 2026, with split-adjusted trading beginning July 6, 2026.

• Appeal Intended

  Snail, Inc. intends to request a hearing before the Nasdaq Hearings Panel to appeal the delisting determination, which will temporarily stay any suspension or delisting action.

auto_awesomeAnalysis · SNAL · Technology

Snail, Inc. faces an escalated delisting threat from Nasdaq, having failed to regain compliance with the minimum bid price requirement and being deemed ineligible for a further extension due to non-compliance with other listing standards (minimum stockholders' equity, market value, or net income). The company is implementing a 1-for-5 reverse stock split, effective July 2, 2026, to address the bid price issue, but there is no assurance this will prevent delisting. The company intends to appeal Nasdaq's determination.