UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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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 |
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. | |||
By: | /s/ James F. Haran | ||
Name: | James F. Haran | ||
Title: | Chief Financial Officer | ||
Date: May 28, 2025 | |||