DelistingJul 24, 2026, 06:07 AM
MaxsMaking Faces Nasdaq Delisting; Will Appeal
AI Summary
MaxsMaking Inc. announced it received a Staff Delisting Determination from Nasdaq, dated July 17, 2026. Nasdaq's decision is based on its discretionary authority under Rule IM-5101-4, citing the potential for third-party manipulation of the company's securities, which indicates insufficient liquidity. The company plans to request a hearing before an independent Hearings Panel, which will automatically stay the delisting action, though trading will remain halted.
Key Highlights
- Nasdaq issued a Staff Delisting Determination to MaxsMaking Inc. on July 17, 2026.
- The delisting is based on Nasdaq Listing Rule IM-5101-4 due to susceptibility to manipulation.
- Nasdaq halted trading in MAMK securities on December 2, 2025, after an SEC suspension on November 17, 2025.
- MaxsMaking intends to request a hearing before an independent Hearings Panel.
- The hearing request will automatically stay any delisting or suspension action.
- The company's securities will remain in a trading halt pending the Hearings Panel's decision.