THE WHAT? Waldencast has received a delisting notice from the Nasdaq Capital Market after it failed to comply with SEC reporting rules.
THE DETAILS The owner of Milk Makeup is planning to appeal the decision, according to a report published by Investing.com, which will delay the delisting process for 22 days.
THE WHY? The company’s annual report for fiscal 2022 is overdue; Investing.com reports that Waldencast will use the breathing room it has secured via its appeal to file the necessary paperwork but there are no guarantees that its appeal will be result in continued listing.