RegulatoryJun 26, 2026, 04:44 PM
Upexi receives Nasdaq non-compliance notice; added to Russell Microcap
AI Summary
Upexi, Inc. received a Nasdaq non-compliance notice on June 24, 2026, for failing to obtain shareholder approval for two convertible note issuances totaling approximately $187 million, violating Nasdaq Listing Rule 5635(a). The company has 45 days to submit a plan to regain compliance. Separately, Upexi announced its inclusion in the Russell Microcap® Index, effective June 29, 2026, aiming to boost institutional investor visibility.
Key Highlights
- Nasdaq non-compliance notice received June 24, 2026, for Rule 5635(a) violation.
- Failed to obtain shareholder approval for two convertible note issuances.
- First issuance: $151.17 million secured convertible notes on July 9, 2025.
- Second issuance: $36 million secured convertible note on January 9, 2026.
- Notes convertible into 20% or more of pre-transaction shares and voting power.
- Company has 45 days (until August 10, 2026) to submit a compliance plan.
- Added to Russell Microcap® Index, effective June 29, 2026.
Price Impact
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