Executive Summary
This digest captures a severe wave of corporate distress across 18 US-listed companies, predominantly driven by Nasdaq and NYSE minimum bid price and market value deficiencies. The most critical development is the confirmed Chapter 11 plan for QVC Inc. and QVC Group, where all existing equity will be canceled for no consideration, representing a total loss for shareholders.
A staggering 14 out of 18 filings involve delisting or non-compliance notices, with 12 specifically for sub-$1.00 bid prices, indicating a systemic liquidity and valuation crisis among small-cap and micro-cap names. The biotech and tech sectors are disproportionately affected, with 6 biotech/life sciences firms and 4 tech companies facing imminent listing threats. Insider activity data is sparse, but the absence of insider buying in the face of these distress signals is a notable bearish indicator. The QVC bankruptcy is the highest materiality event (10/10), while the cluster of bid price deficiencies creates a calendar of critical compliance deadlines between July 2026 and January 2027.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: 8-K
Tracking the trend? Catch up on the prior US Corporate Distress Financial Stress SEC Filings digest from July 23, 2026.
Investment Signals (10)
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Prepackaged Chapter 11 plan confirmed; secured noteholders receive 100% of new equity, cash, and takeback debt, while existing equity is canceled for no consideration. This creates a potential distressed debt opportunity for secured creditors but signals total loss for equity holders. [BEARISH for equity, BULLISH for secured debt]
- VivoSim Labs ↓ (BULLISH)▲
Despite a Nasdaq delisting notice for negative equity, subsequent transactions (Eli Lilly $5M milestone, $4M private placement, $5.1M warrant exercise) have restored equity above $2.5M. This rapid capital infusion suggests strong near-term viability and a potential compliance resolution by September 3, 2026.
- FibroBiologics ↓ (BEARISH)▲
Ineligible for the standard 180-day bid price cure period due to a prior reverse stock split within the last year. This structural penalty makes regaining compliance significantly harder and increases delisting probability, with a hearing deadline of July 29, 2026.
- Chegg ↓ (BEARISH)▲
Received a second NYSE bid price deficiency notice in 7 months, having cured a prior notice in May 2026. This pattern of recurring non-compliance suggests a structural business decline, not a temporary market dislocation.
- Odyssey Marine Exploration ↓ (BEARISH)▲
Stockholders approved a reverse stock split (1:20 to 1:25) on June 1, 2026, ahead of a merger with American Ocean Minerals. The split is explicitly intended to cure the bid price deficiency, but the wide ratio range indicates uncertainty about the required adjustment.
- Liminatus Pharma ↓ (BEARISH)▲
The 180-day compliance period ended July 14, 2026, and the company is not eligible for a second extension. A Nasdaq Hearings Panel decision is pending, with a written response due July 27, 2026. This is the most time-critical delisting risk in the cohort.
- Surf Air Mobility ↓ (BEARISH)▲
Shareholders approved a reverse stock split (2:1 to 6:1) simultaneously with the NYSE deficiency notice, indicating proactive management but also confirming the severity of the price decline. The stock remains listed with no immediate operational impact.
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Voluntary delisting of common stock and two series of notes from Nasdaq, effective July 24, 2026. This is a voluntary withdrawal, not a regulatory action, but it will significantly reduce liquidity and market access for existing shareholders and noteholders. [BEARISH for liquidity]
- Arrive AI ↓ (BEARISH)▲
Non-compliance with Nasdaq's Market Value of Publicly Held Shares (MVPHS) rule, a less common deficiency than bid price. The 32 consecutive business days of non-compliance (June 3 to July 20, 2026) suggests sustained market cap erosion, not a short-term dip.
- Fusemachines ↓ (BEARISH)▲
MVPHS deficiency for the Nasdaq Global Market, with a 180-day cure period ending January 20, 2027. As an emerging growth company, the lack of extended transition period election adds to regulatory risk.
Risk Flags (10)
- QVC Inc./QVC Group – Total Equity Cancellation↓ [HIGH RISK]▼
All existing common and preferred stock will be canceled for no consideration under the confirmed Chapter 11 plan. This is a total loss for equity holders, with no recovery expected.
- FibroBiologics – Reverse Split Ineligibility [HIGH RISK]▼
The company is barred from the standard 180-day bid price cure period due to a reverse stock split within the prior year. This regulatory penalty dramatically increases delisting risk, with a hearing deadline of July 29, 2026.
- Liminatus Pharma – Expired Cure Period [HIGH RISK]▼
The 180-day compliance period ended July 14, 2026, and the company is not eligible for a second extension. The Nasdaq Hearings Panel will decide on continued listing, with a written response due July 27, 2026. This is the most imminent delisting risk.
- Chegg – Recurring Non-Compliance [HIGH RISK]▼
Received a second NYSE bid price deficiency notice in 7 months, having cured a prior notice in May 2026. This pattern suggests a structural business decline, not a temporary market dislocation.
- Invivyd – Uncertain Compliance Path [MODERATE RISK]▼
Received a deficiency letter on July 23, 2026, with a compliance period ending January 19, 2027. The company has no assurance of curing the deficiency, and the filing explicitly states failure could lead to delisting.
- GoPro – Extended Grace Period Risk [MODERATE RISK]▼
Received a Nasdaq notice on July 21, 2026, with a 180-day grace period. While the notice does not immediately affect listing, the company's stock price remains below $1.00, and failure to maintain compliance for 10 consecutive business days could lead to delisting.
- Standard BioTools – Potential Reverse Split Necessity [MODERATE RISK]▼
The company may need to effect a reverse stock split or transfer to the Nasdaq Capital Market to regain compliance. Both options signal financial weakness and potential dilution for existing shareholders.
- Oncolytics Biotech – Bid Price Deficiency [MODERATE RISK]▼
Received a deficiency letter on July 20, 2026, with a 180-day compliance period. The company is assessing options, but there is no assurance of regaining compliance or avoiding delisting.
- Peraso – Bid Price Deficiency with Annual Meeting Overlap [MODERATE RISK]▼
Received a deficiency notice on July 21, 2026, with a 180-day cure period. The board set the 2026 Annual Meeting for September 10, 2026, with a stockholder proposal deadline of August 3, 2026. The overlap of compliance and governance deadlines adds complexity.
- Quantum-Si – Bid Price Deficiency↓ [MODERATE RISK]▼
Received a notice on July 23, 2026, with a 180-day compliance period. The company may need to transfer to the Nasdaq Capital Market for an additional 180-day period, indicating a potential downgrade in listing tier.
Opportunities (9)
- VivoSim Labs – Capital Infusion Catalyst (OPPORTUNITY)◆
The company has received a $5.0M milestone payment from Eli Lilly, a $4.0M private placement, and ~$5.1M from warrant exercises, restoring equity above the $2.5M threshold. This rapid capital injection suggests strong near-term viability and a potential compliance resolution by September 3, 2026.
- QVC Inc./QVC Group – Distressed Debt Opportunity↓ (OPPORTUNITY)◆
Secured noteholders will receive a pro rata share of new equity, cash, and takeback debt under the confirmed Chapter 11 plan. For investors holding or acquiring secured debt, this represents a potential recovery play with a clear path to emergence.
- Odyssey Marine Exploration – Merger Catalyst (OPPORTUNITY)◆
The company is pursuing a reverse stock split (1:20 to 1:25) ahead of a merger with American Ocean Minerals. If the merger closes successfully, the combined entity could have a stronger balance sheet and improved listing prospects.
- Surf Air Mobility – Reverse Split Approval (OPPORTUNITY)◆
Shareholders approved a reverse stock split (2:1 to 6:1) to address the NYSE deficiency. If the split is executed and the stock price stabilizes above $1.00, the company could regain compliance within the six-month cure period.
- Trinity Capital – Potential Private Market Play (OPPORTUNITY)◆
The voluntary delisting may signal a strategic move to go private or restructure away from public market scrutiny. For investors with access to private markets, this could present a buyout or restructuring opportunity.
- Chegg – Turnaround Potential (OPPORTUNITY)◆
The company cured a prior NYSE deficiency in May 2026, demonstrating that compliance is achievable. If management can execute a similar turnaround, the stock could rebound from distressed levels.
- Standard BioTools – Nasdaq Capital Market Transfer (OPPORTUNITY)◆
The company may be eligible for an additional 180-day compliance period by transferring to the Nasdaq Capital Market. This provides a potential pathway to avoid immediate delisting and buy time for a turnaround.
- Oncolytics Biotech – Additional Extension Potential (OPPORTUNITY)◆
The company may qualify for an additional 180-day extension if certain conditions are met. This provides a potential pathway to avoid immediate delisting and buy time for a turnaround.
- Quantum-Si – Nasdaq Capital Market Transfer↓ (OPPORTUNITY)◆
The company may transfer to the Nasdaq Capital Market to qualify for an additional 180-day compliance period. This provides a potential pathway to avoid immediate delisting and buy time for a turnaround.
Sector Themes (6)
- Biotech/Life Sciences Distress Cluster◆
6 out of 18 filings (VivoSim, FibroBiologics, Invivyd, Oncolytics, Liminatus, Quantum-Si) involve biotech or life sciences companies facing delisting risks. This sector concentration suggests a broader funding winter and valuation reset for pre-commercial or early-stage biotech firms. The average materiality score for these filings is 8.5/10, indicating high impact.
- Sub-$1.00 Bid Price Epidemic◆
12 out of 18 filings are for minimum bid price deficiencies (below $1.00), representing 67% of all distress signals. This is a systemic issue across small-cap and micro-cap stocks, driven by market volatility, sector rotation, and investor risk aversion. The cluster of notices on July 21-24, 2026 suggests a coordinated market event or sector-wide sell-off.
- Prepackaged Chapter 11 as a Viable Exit◆
QVC Inc. and QVC Group successfully confirmed a prepackaged Chapter 11 plan, with all equity canceled and secured creditors taking control. This structured approach minimizes disruption and provides a clear path for emergence, potentially serving as a template for other distressed companies.
- Reverse Stock Split as a Common Remedy◆
4 companies (Odyssey Marine, Surf Air Mobility, Liminatus Pharma, and potentially Standard BioTools) are pursuing or considering reverse stock splits to cure bid price deficiencies. While this is a standard remedy, it often signals financial weakness and can lead to further price declines post-split.
- Market Value of Publicly Held Shares (MVPHS) as a New Distress Indicator◆
2 filings (Arrive AI, Fusemachines) involve MVPHS deficiencies, a less common but equally serious listing standard. This suggests that market cap erosion, not just price per share, is a growing concern for Nasdaq-listed companies.
- Voluntary Delisting as a Strategic Choice◆
Trinity Capital's voluntary delisting of common stock and notes is a rare event that signals a strategic shift away from public markets. This could be a precursor to a going-private transaction or a restructuring, and it reduces liquidity for existing shareholders.
Watch List (8)
- Liminatus Pharma – Nasdaq Hearings Panel Decision👁
The company must submit its written response by July 27, 2026, and the Panel will decide on continued listing. This is the most imminent delisting risk in the cohort. [Watch Date: July 27, 2026]
- FibroBiologics – Hearing Request Deadline👁
The company must request an appeal by July 29, 2026 to stay delisting; otherwise, suspension begins July 31, 2026. [Watch Date: July 29, 2026]
- VivoSim Labs – Compliance Plan Deadline👁
The company has until September 3, 2026 to submit a compliance plan to Nasdaq. The recent capital infusion suggests a positive outcome, but the plan must be accepted. [Watch Date: September 3, 2026]
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The company expects to emerge from Chapter 11 after satisfying conditions precedent. Watch for the effective date and the issuance of 50 million new common shares. [Watch Date: TBD]
- Surf Air Mobility – Reverse Stock Split Execution👁
Shareholders approved a reverse split (2:1 to 6:1). Watch for the announcement of the specific ratio and effective date, which will determine the stock's ability to regain NYSE compliance. [Watch Date: TBD]
- Chegg – Six-Month Cure Period👁
The company has six months from July 24, 2026 to regain NYSE compliance. Watch for monthly closing prices and any announcements regarding a reverse stock split. [Watch Date: January 24, 2027]
- Odyssey Marine Exploration – Merger Close👁
The company is pursuing a reverse stock split ahead of its merger with American Ocean Minerals. Watch for the merger closing and the impact on listing compliance. [Watch Date: TBD]
- Peraso – 2026 Annual Meeting👁
The annual meeting is set for September 10, 2026, with a stockholder proposal deadline of August 3, 2026. Watch for any shareholder proposals related to the bid price deficiency or reverse stock split. [Watch Date: September 10, 2026]
Filing Analyses
(18)
24-07-2026
VivoSim Labs received a Nasdaq delisting notice on July 20, 2026, for failing to meet the minimum $2.5M stockholders' equity requirement under Listing Rule 5550(b)(1), as its Annual Report showed negative equity of $(1,099,000). However, subsequent transactions—including a $5.0M milestone payment from Eli Lilly, a $4.0M private placement, and the exercise of warrants adding ~$5.1M to equity—have brought stockholders' equity back above $2.5M as of the filing date. The company has until September 3, 2026 to submit a compliance plan, and its stock remains listed on Nasdaq under 'VIVS' for now.
- · The company has 45 calendar days from July 20, 2026 (until September 3, 2026) to submit a compliance plan to Nasdaq.
- · If Nasdaq accepts the plan, it may grant an extension of up to 180 calendar days (until January 16, 2027) to regain compliance.
- · If the plan is not accepted, the company has the right to appeal to a Nasdaq hearings panel.
- · The private placement closed on July 17, 2026, with a combined purchase price of $0.85 per share/pre-funded warrant and accompanying common warrant.
- · The company's common stock continues to trade on the Nasdaq Capital Market under symbol 'VIVS' with no immediate effect on listing.
24-07-2026
FibroBiologics, Inc. received a Staff Determination letter from Nasdaq on July 22, 2026, notifying the company that its securities will be delisted from The Nasdaq Capital Market due to non-compliance with the minimum bid price rule (closing bid price below $1.00 per share for 30 consecutive business days). The company is not eligible for the standard 180-day compliance period because it effected a reverse stock split within the prior year. FibroBiologics intends to appeal the determination by requesting a hearing before a Nasdaq Hearings Panel, which will stay the delisting pending the hearing process, but there is no assurance of success.
- · The delisting determination was based on the bid price closing below $1.00 per share from June 8, 2026 through July 21, 2026.
- · The company must request an appeal by July 29, 2026 to stay the delisting; otherwise, suspension will begin at the opening of business on July 31, 2026.
- · The company is ineligible for the 180-day compliance period due to a reverse stock split effected within the prior one-year period.
24-07-2026
Invivyd, Inc. received a Nasdaq deficiency letter on July 23, 2026, because its common stock (IVVD) closed below the $1.00 minimum bid price for 30 consecutive business days. The company has until January 19, 2027 to regain compliance, with a potential second compliance period if it transfers to the Nasdaq Capital Market. There is no assurance that Invivyd will be able to cure the deficiency, and failure could lead to delisting.
- · The deficiency letter was received on July 23, 2026, and the filing was made on July 24, 2026.
- · The company's common stock has a par value of $0.0001 per share.
- · The initial compliance period ends on January 19, 2027.
- · If the company does not regain compliance by that date, it may be eligible for a second 180-day compliance period by transferring to the Nasdaq Capital Market.
- · The company intends to monitor the bid price and consider options, but there is no assurance of regaining compliance.
24-07-2026
Trinity Capital Inc. has voluntarily filed a Form 25 with the SEC to delist its common stock and two series of 7.875% Notes (due March 2029 and September 2029) from The Nasdaq Stock Market, effective July 24, 2026. The delisting is a voluntary withdrawal by the issuer and not a result of regulatory or exchange action. This move will reduce liquidity and market access for existing shareholders and noteholders.
- · The delisting covers all three classes of securities: common stock and two series of notes.
- · The filing cites 17 CFR 240.12d2-2(c) for voluntary withdrawal, not a forced delisting.
- · No financial details or reasons for the delisting are provided in the filing.
24-07-2026
Chegg, Inc. received a NYSE notice on July 24, 2026 for non-compliance with the minimum share price requirement (average closing price below $1.00 over 30 consecutive trading days). This is the second such notice, following a prior notice in December 2025 that was cured by end of May 2026. The company has a six-month cure period and may consider a reverse stock split, but faces potential delisting if it fails to regain compliance.
- · The prior NYSE notice from December 2025 was cured by end of May 2026, but the company has now fallen out of compliance again.
- · The company can regain compliance if on the last trading day of any calendar month during the six-month cure period the closing price is at least $1.00 and the 30-trading-day average is at least $1.00.
- · The notice has no immediate impact on listing; shares continue to trade on NYSE during the cure period.
24-07-2026
GoPro, Inc. received a notice from Nasdaq on July 21, 2026, stating that its Class A common stock has failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days, violating Listing Rule 5450(a)(1). The company has a 180-calendar-day grace period to regain compliance by achieving a closing bid price of at least $1.00 for ten consecutive business days. The notice does not immediately affect the listing or trading of GPRO shares on the Nasdaq Global Select Market.
- · The minimum bid price threshold is $1.00 per share.
- · The company must maintain a closing bid price of $1.00 or more for at least ten consecutive business days during the 180-day period to regain compliance.
- · The notice was received on July 21, 2026, and the 8-K was filed on July 24, 2026.
- · The company's Class A common stock trades under the symbol GPRO on the Nasdaq Global Select Market.
24-07-2026
Odyssey Marine Exploration received a Nasdaq deficiency notice on July 21, 2026, for failing to maintain a minimum bid price of $1.00 for 30 consecutive business days, violating Listing Rule 5550(a)(2). The company has a 180-day cure period ending January 19, 2027, and plans to regain compliance via a reverse stock split (1-for-20 to 1-for-25) approved by stockholders on June 1, 2026, ahead of its merger with American Ocean Minerals Corporation. While the notice has no immediate delisting impact, failure to cure could lead to delisting, and the company's stock price remains below $1.00, reflecting ongoing financial distress.
- · Stockholders approved a reverse stock split on June 1, 2026, at a ratio between 1-for-20 and 1-for-25.
- · The company expects the reverse stock split to enable compliance before the merger with AOM closes.
- · If not compliant by January 19, 2027, the company may qualify for an additional 180-day period if it meets other listing standards.
- · The merger with AOM was previously disclosed on April 8, 2026.
24-07-2026
Standard BioTools Inc. (LAB) received a Nasdaq notice on July 22, 2026, for failing to meet the $1.00 minimum bid price requirement over 30 consecutive business days. The company has a 180-day compliance period until January 19, 2027, to regain compliance, and its stock continues to trade uninterrupted. While the company intends to work toward restoring compliance, there is no assurance it will succeed, and a potential transfer to the Nasdaq Capital Market or a reverse stock split may be necessary.
- · The company has 180 calendar days, until January 19, 2027, to regain compliance with the minimum bid price requirement.
- · To regain compliance, the closing bid price must be at least $1.00 for a minimum of 10 consecutive business days.
- · If the company meets all other continued listing standards, it may be eligible for an additional 180-day compliance period by transferring to the Nasdaq Capital Market.
- · The company may need to implement a reverse stock split to cure the deficiency.
- · The notice has no immediate effect on trading or business operations.
24-07-2026
Arrive AI Inc. received a Nasdaq notification on July 21, 2026, for failing to meet the minimum Market Value of Publicly Held Shares (MVPHS) requirement of $15 million for 32 consecutive business days. The stock continues to trade under 'ARAI' with no immediate effect, but the company has 180 days (until January 19, 2027) to regain compliance or face potential delisting. While the company intends to monitor and pursue compliance options, the notification highlights ongoing market value weakness.
- · Non-compliance was specifically with Nasdaq Listing Rule 5450(b)(2)(C) for minimum MVPHS of $15 million.
- · The non-compliance period ran from June 3, 2026 to July 20, 2026 (32 consecutive business days).
- · The cure period ends on January 19, 2027; if not met, Nasdaq will issue a delisting notification.
- · An alternative option is applying for a transfer to The Nasdaq Capital Market, subject to meeting continued listing requirements.
- · The company's common stock par value is $0.0002 per share.
24-07-2026
Oncolytics Biotech Inc. received a Nasdaq deficiency letter on July 20, 2026, for failing to maintain a minimum bid price of $1.00 per share over 30 consecutive business days, triggering potential delisting. The company has a 180-day compliance period (until January 19, 2027) to regain compliance, and may qualify for an additional 180-day extension if certain conditions are met. The company is assessing options, but there is no assurance it will regain compliance or avoid delisting.
- · Letter received on July 20, 2026, from Nasdaq Listing Qualifications Staff.
- · Stock trades under symbol 'ONCY' on the Nasdaq Capital Market.
- · If compliance is regained during the Compliance Period, Nasdaq will confirm in writing.
- · For an additional 180-day period, the company must meet the market value of publicly held shares requirement and all other initial listing standards except the minimum bid price.
- · If the company is not eligible or cannot cure the deficiency, the stock will be subject to delisting.
24-07-2026
QVC Inc. and its parent QVC Group Inc. received court confirmation of their prepackaged Chapter 11 plan of reorganization on July 20, 2026. Under the plan, existing equity interests (common and preferred stock) will be canceled for no consideration, while secured noteholders will receive a pro rata share of new equity, cash, and takeback debt. Trade and other unsecured claims will be paid in full or reinstated, and the company expects to emerge from bankruptcy after satisfying conditions precedent.
- · The Chapter 11 cases are jointly administered under case No. 26-90447 (ARP) in the Southern District of Texas.
- · The Confirmation Order was entered on July 20, 2026 (Docket No. 722).
- · Holders of Allowed RCF Claims and Allowed QVC Notes Claims will receive pro rata share of QVC Funded Debt Plan Consideration (cash, takeback debt, and 100% of new equity, subject to MIP dilution).
- · Holders of Allowed LINTA Notes Claims will receive pro rata share of LINTA Distributable Cash.
- · All indemnification obligations for current/former directors, officers, employees, and professionals will be reinstated and survive the Effective Date.
- · The company cautions that trading in its securities during the Chapter 11 Cases is highly speculative and may bear little relation to actual recoveries.
- · The company expects that equity holders will receive no distributions and all equity interests will be canceled for no consideration.
24-07-2026
LiqTech International received a Nasdaq deficiency notice on July 21, 2026, for failing to maintain the $1 minimum bid price for 30 consecutive business days. The company has 180 calendar days, until January 19, 2027, to regain compliance by having the closing bid price meet or exceed $1.00 for at least ten consecutive business days. While the stock continues to trade under the symbol "LIQT" for now, failure to cure could lead to delisting, though an additional 180-day compliance period may be available if certain conditions are met.
- · The deficiency notice was received on July 21, 2026, and the filing was made on July 24, 2026.
- · The stock continues to trade on The Nasdaq Capital Market under the symbol "LIQT" with no immediate effect on listing.
- · If the company does not qualify for or fails to cure during the second 180-day compliance period, Nasdaq will notify the company of its determination to delist, with an opportunity to appeal to a Hearings Panel.
- · The company is considering its options to regain compliance but has not specified any concrete plan.
24-07-2026
Liminatus Pharma, Inc. disclosed it has not regained compliance with Nasdaq's minimum bid price rule ($1.00) and is not eligible for a second 180-day extension. The Nasdaq Hearings Panel will decide on continued listing, with the company required to submit its views by July 27, 2026. The company is also seeking shareholder approval for a reverse stock split at its August 3, 2026 annual meeting as a potential remedy.
- · The company received the initial non-compliance notice on January 15, 2026, and the 180-day compliance period ended July 14, 2026.
- · A hearing before the Nasdaq Hearings Panel was held on June 30, 2026.
- · The company must submit its written response to the Panel regarding the additional deficiency by July 27, 2026.
- · The annual meeting of stockholders is scheduled for August 3, 2026, to authorize a reverse stock split.
24-07-2026
QVC Group, Inc. filed for Chapter 11 bankruptcy on April 16, 2026, and on July 20, 2026, the Bankruptcy Court confirmed its prepackaged plan of reorganization. Under the plan, all existing equity interests (common and preferred stock) will be canceled for no consideration, while secured and unsecured trade claims will be paid in full. The company expects to emerge from bankruptcy after satisfying conditions precedent, with 50 million new common shares to be issued.
- · All existing equity interests (Series A common, Series B common, and 8.0% Series A Cumulative Redeemable Preferred Stock) will be canceled for no consideration on the Effective Date.
- · Holders of Allowed RCF Claims and Allowed QVC Notes Claims will receive pro rata share of QVC Funded Debt Plan Consideration, including QVC Distributable Cash, Takeback Debt, and 100% of QVC New Equity Interests (subject to dilution by MIP Shares).
- · Holders of Allowed LINTA Notes Claims will receive their pro rata share of LINTA Distributable Cash.
- · All other secured and unsecured claims (including trade claims) will be paid in full in cash, reinstated, or otherwise rendered unimpaired.
- · Indemnification obligations for current and former directors, officers, and other professionals will be reinstated and survive the Effective Date.
- · The Chapter 11 Cases are being jointly administered under Case No. 26-90447 (ARP) in the Southern District of Texas.
24-07-2026
Fusemachines Inc. (FUSE) received a Nasdaq notification on July 24, 2026, for failing to maintain the minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000 for the Nasdaq Global Market, as its MVPHS was below that threshold for 30 consecutive business days from June 10 to July 23, 2026. The company has 180 calendar days, until January 20, 2027, to regain compliance by closing at or above $15,000,000 for at least 10 consecutive business days. There is no immediate impact on listing or trading, and the company intends to evaluate options to regain compliance, though the outcome remains uncertain.
- · The non-compliance period for MVPHS was from June 10, 2026 through July 23, 2026.
- · The company's common stock continues to trade under the symbol 'FUSE' on the Nasdaq Global Market during the compliance period.
- · The company is an emerging growth company and has not elected to use the extended transition period for complying with new or revised financial accounting standards.
24-07-2026
Peraso Inc. (PRSO) received a Nasdaq deficiency notice on July 21, 2026, for failing to maintain a minimum bid price of $1 per share for 30 consecutive business days. The company has a 180-day cure period until January 19, 2027, and is considering options including a potential reverse stock split. Separately, the board set the 2026 Annual Meeting for September 10, 2026, with a stockholder proposal deadline of August 3, 2026.
- · Stockholders of record as of July 20, 2026 are entitled to vote at the 2026 Annual Meeting.
- · Stockholder proposals under Rule 14a-8 must be received by August 3, 2026.
- · Director nominations and other business outside Rule 14a-8 must also be submitted by August 3, 2026.
- · Universal proxy rule compliance notices are due by August 3, 2026.
24-07-2026
Surf Air Mobility Inc. received a notice from the NYSE on July 24, 2026, indicating non-compliance with the minimum average closing price of $1.00 over 30 consecutive trading days. The company has a six-month cure period to regain compliance. At the same time, shareholders approved a reverse stock split (ratio 2:1 to 6:1) to address the listing deficiency, and ratified PwC as auditor. However, the stock remains listed with no immediate impact on operations or SEC reporting.
- · The reverse stock split ratio ranges from 2:1 to 6:1, inclusive.
- · The company has 10 business days from receipt of the notice to notify NYSE of its intent to cure.
- · The cure period is six months following receipt of the notice.
- · To regain compliance, the company must have a closing share price of at least $1.00 on the last trading day of any calendar month during the cure period and an average closing price of at least $1.00 over the prior 30 trading days.
- · The notice has no immediate effect on the listing of the common stock.
24-07-2026
Quantum-Si Inc. received a Nasdaq notice on July 23, 2026, that its Class A common stock (QSI) has fallen below the $1.00 minimum bid price for 30 consecutive business days, failing the Bid Price Requirement for continued listing on The Nasdaq Global Market. The company has an initial 180-day compliance period until January 19, 2027, to regain compliance, and may be eligible for an additional 180-day period if it transfers to the Nasdaq Capital Market. There is no immediate impact on trading or operations, but failure to cure could lead to delisting.
- · The notice was received from the Listing Qualifications Department of Nasdaq.
- · The company may transfer to The Nasdaq Capital Market to qualify for an additional 180-day compliance period.
- · To effect a transfer, the company must pay an application fee and provide written notice of intent to cure, potentially via a reverse stock split.
- · If delisting is initiated, the company may appeal to a Nasdaq Hearings Panel, but success is not assured.
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