SurgePays Inc. Granted 180-Day Extension to Meet Nasdaq $1 Bid Rule

What Happened

• SurgePays, Inc. announced that on September 28, 2026 it received a letter from the Nasdaq Listing Qualifications Department granting an additional 180‑calendar‑day period (until March 22, 2027) to regain compliance with Nasdaq’s $1.00 minimum bid price requirement.
• Nasdaq had previously notified the company of the bid price deficiency on March 23, 2026 and the initial cure period expired September 21, 2026. Nasdaq granted the extension because SurgePays meets the market value of publicly held shares and other initial listing requirements, except the bid price rule. The company said it intends to cure the deficiency and may effect a reverse stock split if necessary.

Key Details

• Letter received: September 28, 2026; new compliance deadline: March 22, 2027 (180 days).
• Prior notice of bid price deficiency: March 23, 2026; initial compliance period expired September 21, 2026.
• Nasdaq separately determined (letter dated September 28, 2026) that SurgePays complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1), addressing a prior deficiency from March 18, 2026.
• If the company fails to regain compliance by March 22, 2027 Nasdaq will notify it of delisting; the company can appeal to a Nasdaq Hearings Panel, though a timely post‑period hearing request would not stay a trading suspension.

Why It Matters

• This extension gives SurgePays more time to fix the sub‑$1 share price (for example via a reverse stock split) and avoid immediate delisting, which preserves its Nasdaq listing in the near term.
• Failure to regain compliance could lead to delisting, which the filing notes could reduce liquidity and market value of the stock, limit investor interest and access to public capital, and impair the company’s ability to use equity for financing or employee incentives.
• There is no assurance the company will regain or maintain compliance with Nasdaq’s listing standards, so the outcome remains uncertain for investors.