Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On December 14, 2022, Kaspien Holdings Inc. (the "Company") received written
notice (the "Notice") from The Nasdaq Stock Market ("Nasdaq") that the closing
bid price for its common stock had been below $1.00 for the previous 30
consecutive business days, and that the Company therefore is not in compliance
with the minimum bid price requirement for continued listing on The Nasdaq
Capital Market under Nasdaq Listing Rule 5550(a)(2).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been
provided a period of 180 calendar days, or until June 12, 2023, to regain
compliance. In order to regain compliance with the minimum closing bid price
rule, the closing bid price of the Company's common stock must be at least $1.00
for a minimum of ten consecutive business days during the compliance period. If
the Company does not regain compliance during the initial compliance period, the
Company may be eligible for additional time to regain compliance. If the Company
is not eligible, the Company expects that at that time Nasdaq will provide
written notice to the Company that the Company's common stock will be subject to
delisting.
The Notice has no immediate impact on the listing of the Company's common stock,
which will continue to trade on The Nasdaq Capital Market. The Company intends
to monitor its closing bid price for its common stock between now and June 12,
2023 and will consider available options to resolve the Company's noncompliance
with the minimum bid price requirement, as may be necessary.
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KASPIEN HOLDINGS 