8-K
XCel Brands, Inc. (XELB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 22, 2025
XCEL BRANDS, INC.
(Exact name of registrant as specified in its charter)
| | | | | |
|---|---|---|---|---|
| Delaware | **** | 001-37527 | **** | 76-0307819 |
| (State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | | | | |
| 1333 Broadway , New York , New York | | | | 10018 |
| (Address of Principal Executive Offices) | | | | (Zip Code) |
Registrant’s telephone number, including area code ( 347 ) 727-2474
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| | | |
|---|---|---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, par value $0.001 per share | XELB | NASDAQ Global Select Market |
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 22, 2025, Xcel Brands, Inc. (the “Company”), received a delinquency notification letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating since Nasdaq has not received the Company’s Form 10-Q for the period ended March 31, 2025, and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2024, the Company does not comply with Nasdaq’s Listing Rules for internal listing.
Nasdaq has informed the Company that, in accordance with Nasdaq’s April 29, 2025 letter to the Company, the Company until June 30, 2025 to submit a plan (the “Plan”) to regain compliance with respect to those delinquent reports and that any exception to allow the Company to regain compliance, if granted, would be limited to October 13, 2025. The Company filed the delinquent Form 10-K on May 28, 2025 and intends to file the delinquent Form 10-Q as soon as practicable and, in any event, prior to June 30, 2025, and thereby regain compliance with the Nasdaq continued listing requirements and eliminate the need for the Company to submit a Plan.
A press release, dated May 23, 2025, disclosing the Company's receipt of the Nasdaq notification letter is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Press Release of Xcel Brands, Inc. dated May 28, 2025. |
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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.
| XCEL BRANDS, INC.<br>(Registrant) | | ||
|---|---|---|---|
| | | ||
| By: | /s/ James F. Haran | | |
| Name: | James F. Haran | | |
| Title: | Chief Financial Officer | | |
| | | | |
| Date: May 28, 2025 | |
Exhibit 99.1
XCEL BRANDS, INC. Receives NASDAQ notice regarding delinquent Form 10-K and Form 10-Q filing
NEW YORK, May 28, 2025 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), today announced that on May 22, 2025, it received a delinquency notification letter from the Nasdaq Stock Market LLC ("Nasdaq") indicating that since Nasdaq has not received the Company’s Form 10-Q for the period ended March 31, 2025 indicating that, and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2024, does not comply with Nasdaq’s Listing Rules for internal listing. The Nasdaq notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.
Nasdaq has informed the Company that in accordance with its April 29, 2025 letter to the Company that the Company has until June 30, 2025 to submit a plan (the "Plan") to regain compliance with respect to the delinquent reports and that any exception to allow the Company to regain compliance, if granted, will be limited to October 13, 2025. The Company filed the delinquent Form 10-K on May 28, 2025 and intends to file the delinquent Form 10-Q as soon as practicable and, in any event, on or prior to June 30, 2025 and thereby regain compliance with the Nasdaq continued listing requirements and eliminate the need for the Company to submit a Plan.
About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the Tower Hill by Christie Brinkley co-branded collaboration, and holds noncontrolling interests in the Isaac Mizrahi brand and Orme Live. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of $5 billion in retail sales via livestreaming in interactive television and digital channels alone, and over 20,000 hours of live-stream and social commerce. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. www.xcelbrands.com
For further information please contact:
Seth Burroughs Marketing and Public Relations, Xcel Band, Inc.. 347 532 5894 sburroughs@xcelbrands.com