DelistingJul 10, 2026, 04:07 PM
Pitanium Receives Nasdaq Delisting Determination Letter
AI Summary
Pitanium Limited announced it received a delisting determination letter from Nasdaq, following an SEC order in October 2025 that suspended trading due to potential manipulation via social media. Nasdaq halted trading and is now delisting the company's securities under its discretionary authority. Pitanium has until July 14, 2026, to appeal the decision, otherwise, trading will be suspended on July 16, 2026. The company stated that Nasdaq has not found any wrongdoing by Pitanium, and the delisting does not impact its business operations, though future trading may be limited to the OTC market.
Key Highlights
- Pitanium received a delisting determination letter from Nasdaq dated July 7, 2026.
- The SEC suspended trading in the Company's securities on October 3, 2025, due to potential manipulation.
- Nasdaq's delisting determination is based on Listing Rule IM-5101-4, allowing discretion for misconduct impacting securities.
- The Company has until July 14, 2026, to appeal the delisting determination.
- If no appeal, trading will be suspended on July 16, 2026, and Nasdaq will file Form 25-NSE.
- Nasdaq has not communicated any findings of wrongdoing by Pitanium itself.
- The delisting does not affect the Company's ongoing business operations or financial condition.
- Pitanium's securities may be eligible for trading in the over-the-counter (OTC) market.
Price Impact
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