American Rebel Holdings Inc 8-K/A, filed Jul 12, 2023
American Rebel Holdings Inc (AREB)
About this 8-K/A
American Rebel Holdings Inc filed this 8-K/A on July 12, 2023, reporting on events of July 5, 2023.
Items reported
- Item 3.01: Delisting notice or listing transfer
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
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CURRENT REPORT
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Explanatory Note
This Amendment No. 1 to Current Report on Form 8-K amends Item 3.01 of the Current Report filed on July 11, 2023 (the “Original Form 8-K”) by American Rebel Holdings, Inc. (the “Company”) solely to clarify that the Company did not receive the written notification from the Listing Qualifications Department (the “Staff”) indicating the Company had regained compliance with Nasdaq Listing Rule 5550(a)(2) prior to the filing of the Original Form 8-K.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on June 28, 2022, the Company received a written notification (the “Notice”) from the Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”), as the Registrant’s closing bid price for its common stock, par value $0.001 per share, was below $1.00 per share for the thirty-three (33) consecutive business days prior to the date of the Notice from Nasdaq. At that time, the Company was granted a period of 180 calendar days, or until December 27, 2022, to regain compliance with the Bid Price Requirement.
As previously disclosed, on December 28, 2022, the Company received notice from Nasdaq indicating that, while the Company has not regained compliance with the Bid Price Requirement, Nasdaq has determined that the Company is eligible for an additional 180-day period, or until June 26, 2023, to regain compliance.
On July 5, 2023, the Company received a determination letter from the Staff notifying the Company that it had not regained compliance with the Bid Price Requirement in compliance with Nasdaq Listing Rule 5550(a)(2). Accordingly, the Staff determined that unless the Company requested an appeal of this determination and timely requested a hearing before a Nasdaq Hearings Panel, the trading of the Company’s securities will be suspended at the opening of business on July 14, 2023, and the Company’s securities will be delisted from Nasdaq.
As of the close of trading on July 11, 2023, the closing bid price for the Company’s common stock, par value $0.001 per share, was above $1.00 per share for ten (10) consecutive business days. The Company expects to receive on July 12, 2023, a written notification from the Staff indicating that, as of July 11, 2023, the Company had regained compliance with the Minimum Bid Price Requirement. Once that written notification is received, the Company will not need to appeal the Staff’s delisting determination and the Company’s securities will remain listed for trading on Nasdaq. The Company will issue a press release following receipt of this written notification.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMERICAN REBEL HOLDINGS, INC. | ||
| Date: July 12, 2023 | By: | /s/ Charles A. Ross, Jr. |
Charles A. Ross, Jr. Chief Executive Officer | ||
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