Summary by Moomoo AI
On April 30, 2024, Kaival Brands Innovations Group, Inc., a Delaware-incorporated company listed on The Nasdaq Stock Market under the trading symbol KAVL, received a notice from Nasdaq's Listing Qualifications Department. The notice informed the company that it had failed to hold its annual meeting by the previously set deadline of April 29, 2024, as required to maintain compliance with Nasdaq Listing Rule 5620(a). As a result, unless Kaival Brands appeals this determination by May 7, 2024, Nasdaq plans to delist the company's securities and suspend trading at the opening of business on May 9, 2024. A Form 25-NSE will also be filed with the SEC to remove the company's securities from listing and registration on The Nasdaq Stock Market. Kaival Brands has expressed its intention to request a hearing before Nasdaq's Hearings Panel by the May 7 deadline. In the interim, the company's common stock will continue to trade on The Nasdaq Stock Market under the symbol 'KAVL' until the Panel's decision is made.