Orlando, Florida (June 22, 2020) – IZEA Worldwide, Inc. (NASDAQ: IZEA) (the “Company”), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, today received formal notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company’s common stock to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s common stock was at $1.00 per share or greater for the prior 10 consecutive business days.
Nasdaq had previously notified the Company of its non-compliance with Listing Rule 5550(a)(2) on June 13, 2019. In accordance with its Listing Rules, Nasdaq afforded the Company 180 calendar days (until December 10, 2019) to regain compliance and on December 11, 2019 granted the Company an additional 180 days for compliance, through June 8, 2020.? In the interim, as a result of the effects of COVID-19 on businesses and the stock market, without request, Nasdaq filed a rule change to toll the bid price requirement, resulting in the Company’s compliance period extending through August 24, 2020. Prior to the expiration of the compliance period, the Company successfully regained compliance with the listing standard as a result of favorable market conditions.