Jupiter Wellness Faces Potential Delisting from Nasdaq Capital Market Due to Non-Compliance with Minimum Bid Price Requirement

On January 10, 2025, Safety Shot, Inc., operating under the name Jupiter Wellness (NASDAQ: JUPW), disclosed in a Form 8-K filing to the Securities and Exchange Commission (SEC) that it has received a notice from The Nasdaq Stock Exchange, indicating that its common stock’s closing bid price has remained below $1.00 per share for the last 30 consecutive days. This situation results in the company’s non-compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).

Although Nasdaq’s notice does not immediately impact the listing or trading of Jupiter Wellness’ common stock, the company has a window of 180 calendar days, until July 1, 2025, to rectify the non-compliance issue. To regain compliance, the stock must maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days during this 180-day period.

In the event that Jupiter Wellness fails to restore compliance within the initial period, it could potentially qualify for an additional 180-day grace period. During this extended period, the company would need to meet all Nasdaq initial listing standards, excluding the minimum bid price requirement under Rule 5550(a)(2), and provide written notice of its intention to address the deficiency during this second compliance phase. Failure to demonstrate the ability to rectify the situation could lead Nasdaq to initiate the delisting process.

Jupiter Wellness has expressed its commitment to actively monitor its common stock’s minimum bid price and explore available options to meet the requirements set forth by Rule 5550(a)(2), which may involve considerations such as a reverse stock split. However, the company cautioned that there are no guarantees of regaining compliance.

As part of the filing, it was disclosed that the company is listed under the Common Stock symbol ‘SHOT’ and also has Warrants available for trading under the symbol ‘SHOTW’ on The Nasdaq Capital Market.

Investors and stakeholders monitoring Jupiter Wellness’ progress regarding the compliance matter are urged to stay informed about further developments as the company navigates the process outlined by Nasdaq.

The company provided the required Exhibit 104 which includes the Cover Page Interactive Data File embedded with the Inline XBRL document, as part of the submission.

Jupiter Wellness, operating under the entity name Safety Shot, Inc., is classified as an emerging growth company as defined by Rule 405 of the Securities Act of 1933. Jarrett Boon, the Chief Executive Officer, signed off on behalf of the company as of January 10, 2025.

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

About Jupiter Wellness

Jupiter Wellness, Inc, a wellness company, engages in the research and development of over-the-counter products and intellectual property. Its products pipeline includes Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women's sexual wellness; NoStingz, a jellyfish sting prevention sunscreen; and JW-110 for the treatment of atopic dermatitis/eczema.