Snail, Inc. announced it received a decision from the Nasdaq Hearings Panel on August 26, 2026, granting its request to continue listing its Class A Common Stock on The Nasdaq Capital Market. The continuation is conditional upon the company demonstrating compliance with Nasdaq's minimum stockholders' equity requirement.
Key Details
- Listing Condition: The company must achieve a minimum stockholders' equity of at least $2.5 million to satisfy Nasdaq Listing Rule 5550(b).
- Status: SNAL's stock will continue to trade on Nasdaq during an exception period while the company works to regain compliance. Failure to meet the condition will result in delisting.
- Background: The company was previously non-compliant with both the minimum bid price and stockholders' equity rules. It regained compliance with the minimum bid price rule in July 2026 following a reverse stock split.