Pitanium Limited Receives Nasdaq Delisting Determination Notice
Pitanium Limited announced it received a delisting determination notice from Nasdaq, effective July 7, 2026. This decision follows an SEC trading suspension in October 2025 due to potential manipulation of the company's securities via social media. Nasdaq cited its discretionary authority under Listing Rule IM-5101-4, which allows delisting based on potential third-party misconduct impacting a company's securities when the SEC has implemented a temporary trading suspension. The company has until July 14, 2026, to appeal the determination, otherwise trading will be suspended on July 16, 2026. Pitanium stated the delisting does not impact its business operations, and its securities may be eligible for OTC trading, though an active market is not guaranteed.
Key Highlights
- Pitanium Limited received a delisting determination notice from Nasdaq dated July 7, 2026.
- Nasdaq Staff determined to delist the company's securities from Nasdaq.
- The delisting follows an SEC trading suspension on October 3, 2025, due to potential manipulation.
- Nasdaq cited Listing Rule IM-5101-4, allowing delisting based on potential third-party misconduct.
- The company has until July 14, 2026, to appeal the determination.
- If no appeal, trading will be suspended on July 16, 2026, and Nasdaq will file Form 25-NSE.
- The delisting does not affect the company's ongoing business operations or financial condition.
- Securities may be eligible for over-the-counter (OTC) trading, but an active market is not assured.
Price Impact
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