Flash Sports & Media faces Nasdaq trading suspension over listing rule breach
Reuters2026/08/21 21:29- Flash Sports & Media received a Nasdaq staff determination letter citing failure to satisfy continued listing rules tied to its February 2025 reverse merger.
- Nasdaq deemed the deal a change of control, requiring completion of an initial listing application before removing a 19.9% conversion cap.
- Stockholders removed the cap on June 12, 2026; Series B preferred converted into 53,539,119 common shares on June 23, 2026.
- Nasdaq ordered immediate suspension; trading is set to halt at the open on Aug. 26, 2026.
- Company plans a Nasdaq hearings panel appeal by 4 p.m. ET on Aug. 26, 2026, seeking reinstatement; delisting risk could hit liquidity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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