Upland Software Receives Nasdaq Notice Over $15M Market-Value Deficiency

What Happened

• Upland Software, Inc. (ticker: UPLD) announced it received a Nasdaq Listing Qualifications notice on July 31, 2026 saying the company no longer meets Nasdaq’s $15 million minimum market value of publicly held shares requirement under Rule 5450(b)(2&3)(C). This is a notice of deficiency, not a delisting notice, and UPLD continues to trade on the Nasdaq Global Market.
• The company has 180 days to regain compliance — until January 27, 2027 — or Nasdaq will begin delisting proceedings. Upland’s 8‑K was signed by CEO Sean Nathaniel on August 5, 2026.

Key Details

• Nasdaq rule cited: Listing Rule 5450(b)(2&3)(C) (minimum market value of publicly held shares = $15,000,000).
• Notice received: July 31, 2026; Compliance Date: January 27, 2027 (180 days).
• To regain compliance earlier, the publicly held market value must close at $15M+ for at least 10 consecutive business days (Nasdaq generally references up to 20 days for review).
• Trading status: common stock continues to trade on the Nasdaq Global Market under the symbol “UPLD”; if delisted, the company may appeal to a Nasdaq Hearings Panel.

Why It Matters

• For investors, the filing signals a risk that Upland could be subject to delisting if it does not restore the required public market value by the deadline. Delisting can reduce liquidity, limit investor access, and potentially put downward pressure on the share price.
• The company says it will monitor the situation and consider plans to regain compliance but warned there is no assurance it will succeed before the deadline or any extension. Investors should watch the company’s market-value trajectory and any follow-up filings for remediation plans or further Nasdaq action.