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Urgent.ly Inc. (NASDAQ:ULY) ("Urgently" or the "Company"), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today that The Nasdaq Stock Market LLC ("Nasdaq") formally notified the Company that, based upon its non-compliance with Nasdaq Listing Rule 5550(b) (the "Rule"), which requires a minimum of $500,000 in net income (in the most recent fiscal year or two of the last three fiscal years), a $35.0 million market value of listed securities, or $2.5 million in stockholders' equity, as of September 15, 2025, Urgently's securities were subject to delisting at the open of business on September 25, 2025 unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the "Panel"). Urgently plans to timely request a hearing before the Panel, which request will automatically stay any further action by Nasdaq at least pending the conclusion of the hearing and the expiration of any extension period that may be granted by the Panel following the hearing.
At the hearing, the Company will present its plan to evidence compliance with the Rule and request an extension to do so. The Company is actively pursuing strategies to comply with the Rule; however, there can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will evidence compliance with all applicable criteria for continued listing on Nasdaq within any extension period that may be granted by the Panel to the Company.
Posted In: ULY
