Mangoceuticals gets 180-day Nasdaq extension to regain bid-price compliance
Mangoceuticals said Nasdaq gave it more time to meet the exchange’s minimum bid-price rule as it advances a planned business combination with Nuclea Energy.
Mangoceuticals said Nasdaq gave it more time to meet the exchange’s minimum bid-price rule as it advances a planned business combination with Nuclea Energy.
Mangoceuticals, Inc. said on Aug. 4 that Nasdaq granted an additional 180-calendar-day extension for the company to regain compliance with the exchange’s minimum bid-price requirement.
The company said it now has until Feb. 1, 2027, to keep its common stock at a closing bid price of at least $1.00 per share for 10 consecutive business days. Mangoceuticals said the extension gives it more time to address the deficiency while it works on a separate transaction with Nuclea Energy Inc.
Nasdaq listing rules can affect whether a company remains on the exchange. Mangoceuticals said it may seek to cure the bid-price shortfall with a reverse stock split if needed during the extension period.
According to the press release, Nasdaq granted the extension after determining that Mangoceuticals met the continued listing requirement for market value of publicly held shares and other applicable initial listing requirements for the Nasdaq Capital Market. The company said it had also told Nasdaq in writing that it intended to fix the bid-price problem within the extension period.
Mangoceuticals said it is advancing a previously announced definitive business combination agreement with Nuclea Energy. The company described Nuclea as an advanced nuclear technology company developing the Morpheus microreactor, which it called a lead-cooled, factory-built micro modular reactor intended for reliable, carbon-free power for AI infrastructure, data centers and other uses.
Chief Executive Officer Jacob D. Cohen said the extension provides “continued flexibility” as the company advances its operational and strategic objectives with Nuclea Energy. He also said Mangoceuticals looks forward to bringing value to shareholders through exposure to the advanced nuclear sector and the commercialization potential of Morpheus.
The release said Mangoceuticals plans to file materials with the Securities and Exchange Commission, including a registration statement and proxy statement tied to the proposed transaction. It said stockholders and investors should read those documents when they are available because they will contain important information about the deal.
The company also said Mangoceuticals, Nuclea Energy and certain directors, executive officers and employees may be deemed participants in the proxy solicitation. The release said the communication is informational only and not an offer to sell or a solicitation to buy securities or vote.
Mangoceuticals said it will continue working to meet Nasdaq’s bid-price rule before the Feb. 1, 2027 deadline while it moves ahead with the Nuclea Energy transaction.
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