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Mesa Air : Failure to Satisfy Listing Rule - Form 8-K

November 08, 2023 at 06:06 am EST
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 3, 2023, Mesa Air Group, Inc. (the "Company") received a notice in the form of a letter ("Deficiency Letter") from the Nasdaq Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the bid price for the Company's shares of common stock had closed below $1.00 per share for the previous 30 consecutive business days (the "Minimum Bid Price Requirement"). The Deficiency Letter has no immediate impact on the listing of the Company's shares of common stock, which will continue to be listed and traded on The Nasdaq Global Select Market under the symbol "MESA" at this time, subject to the Company's compliance with the other continued listing requirements.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until May 1, 2024, to regain compliance with the Minimum Bid Price Requirement.