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Cycurion, Inc. (NASDAQ:CYCU) ("Cycurion" or the "Company"), a leading cybersecurity solutions provider, announced today that it received a Delisting Determination Letter from the staff of Nasdaq Listing Qualifications (the "Staff") on October 14, 2025, providing that the Staff has determined to commence proceedings to delist the common stock, par value $0.0001 per share, of the Company (ticker symbol: CYCU), from the Nasdaq Global Market (the "Nasdaq").
As previously announced, on April 9, 2025, the Staff notified the Company that, for the prior 30 consecutive business days, the closing bid price of the Company's common stock had been below the minimum of $1.00 per share required for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The notification letter stated that the Company would be afforded 180 calendar days, or until October 6, 2025, to regain compliance.
The Company has not regained compliance with the Bid Price Rule, and the listed security is now subject to delisting from The Nasdaq Global Market. Unless the Company requests an appeal of the Staff's determination by October 21, 2025, trading of the Company's shares of common stock will be scheduled for delisting at the opening of business on October 23, 2025, and Nasdaq intends to file a Form 25-NSE with the SEC, removing the Company's shares of common stock from listing and registration on The Nasdaq Stock Market.
On October 20, 2025, the Company submitted its request to the Nasdaq Global Market to appeal the Staff's determination to a Hearings Panel (the "Panel") pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. The Company has been informed by the Staff that Panel hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request.
On October 10, 2025, the Company's board of directors determined to effect a 30:1 reverse stock split to regain compliance with the Bid Price Rule, which is expected to take effect on October 27, 2025. As previously announced, holders of a majority of the Company's issued and outstanding common stock, including certain holders of shares of preferred stock, which shares vote together with the shares of common stock, approved a reverse stock split proposal at a reverse stock split ratio ranging between and including 3:1 to 75:1 and in the aggregate not more than 250:1, inclusive, by written consent as set forth in the Company's definitive Information Statement filed with the U.S. Securities and Exchange Commission on September 9, 2025. The reverse stock split proposal became effective on September 29, 2025.
Posted In: CYCU
