London, UK, Aug. 20, 2026 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (the "Company" or "RedCloud") (Nasdaq: RCT) received written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on August 10, 2026, the details of which are described below. The Company previously disclosed receipt of the Notification Letter in a Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 10, 2026.
On August 10, 2026, RedCloud received written notification (the "Notification Letter") from Nasdaq that the Company is not in compliance with the minimum market value of listed securities set forth in Nasdaq's rules for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(2) requires primary securities listed on the Nasdaq Capital Market to maintain a minimum market value of listed securities of $35,000,000 (the "MVLS Requirement"), and Listing Rule 5810(c)(3)(C) provides that a failure to meet the MVLS Requirement exists if a deficiency under Rule 5550(b)(2) continues for a period of 30 consecutive business days. Based on the market value of the Company's listed securities for a period of greater than 30 consecutive business days prior to August 6, 2026, the Company is not in compliance with the MVLS Requirement.
In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has a cure period of 180 calendar days, or until February 8, 2027 (the "Compliance Period"), to regain compliance with the MVLS Requirement. To regain compliance, the market value of the Company's listed securities must meet or exceed $35,000,000 for at least 10 consecutive business days during the Compliance Period. If the Company does not regain compliance during such period, Nasdaq will provide written notice that the Company's ordinary shares are subject to delisting. In that event, the Company may appeal such determination to a hearing panel.
The Company will make its best efforts to regain compliance with the MVLS Requirement prior to the expiration of the Compliance Period. However, there can be no assurance that the Company will succeed in doing so.
About RedCloud Holdings plc
RedCloud's mission is to build the intelligence infrastructure of global trade, through generation and aggregation of proprietary trading and market data from across the FMCG industry through its RedAI infrastructure and associated products ("RedAI"). RedCloud provides market intelligence based on proprietary trading data across categories in each of its markets. The Company also delivers a trading infrastructure and related products for use by its customers, to enable intelligent digital exchange of everyday consumer supplies of FMCG products across business supply chains, supported by a payments and lending ecosystem intended to streamline trade.
RedCloud is a British company registered in London, co-founded by serial entrepreneur Justin Floyd and Soumaya Hamzaoui. For more information, please visit www.redcloudtechnology.com and connect on LinkedIn.
Forward-Looking Statements
The information in this press release may include forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance. Words such as "expect," "project," "estimate," "believe," "anticipate," "intend," "plan," "seek," "forecast," "target," "predict," "may," "should," "would," "could," and "will," the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including, but not limited to, the Company's ability to regain compliance with Nasdaq's rules for continued listing, the concomitant risk that the Company's shares may be delisted by Nasdaq, market and business conditions. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements described in "Cautionary Note Regarding Forward-Looking Statements," "Item 3. Key Information - D. Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in RedCloud's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission, as well as the Company's periodic reports and other filings with the SEC. RedCloud undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.
Contacts
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