InterGroup Corporation (NASDAQ:INTG) Faces Potential Delisting from Nasdaq Capital Market

On November 21, 2024, The InterGroup Corporation received a Staff Deficiency Letter from the Nasdaq Stock Market Listing Qualifications Department, highlighting a lapse in compliance with the minimum Market Value of Listed Securities (MVLS) requirements. The company failed to maintain the required $35 million MVLS from October 7, 2024, to November 20, 2024, thereby breaching Listing Rules 550(b)(1) and 5550(b)(3).

To remedy this situation, The InterGroup Corporation has been granted until May 20, 2025, to meet all continued listing requirements of the Nasdaq Capital Market. During this compliance period, the company must ensure that its MVLS closes at $35 million or higher for a minimum of ten consecutive business days. Failure to achieve this criterion may result in the initiation of Nasdaq delisting proceedings.

Included in the report was an exhibit (104) – Cover Page Interactive Data File signifying the submission of relevant data pertaining to the event.

The InterGroup Corporation, a Delaware-based company with its principal executive offices located in Los Angeles, CA, can be reached at (310) 889-2500. The filing was duly signed on behalf of the registrant on November 26, 2024, by John V. Winfield, who serves as the Chairman of the Board, President, and Chief Executive Officer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read The InterGroup’s 8K filing here.

The InterGroup Company Profile

The InterGroup Corporation, through its subsidiaries, operates a hotel under the Hilton San Francisco Financial District name located in San Francisco, California. The company operates through three segments: Hotel Operations, Real Estate Operations, and Investment Transactions. Its hotel consists of guest rooms and luxury suites, a restaurant, a lounge, a private dining room, meeting room space, a gym, a grand ballroom, 5-level underground parking garage, a pedestrian bridge, and a Chinese culture center.