Blue Star Foods Receives Delisting Notice from Nasdaq, Shares Set to Trade on OTC Markets

Blue Star Foods Corp. (NASDAQ:BSFC) recently disclosed in an 8-K filing on December 18, 2024, that the company has received a formal notice from The Nasdaq Stock Market LLC regarding the delisting of its securities. The delisting decision was made by the Nasdaq Hearings Panel based on the company’s non-compliance with Listing Rule 5550(a)(2), known as the “Minimum Bid Price Requirement.”

As a consequence of the Panel’s ruling, Nasdaq will halt the trading of Blue Star Foods’ common stock, effective from the commencement of business on Friday, December 20, 2024. Nasdaq is expected to complete the delisting process by submitting a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities and Exchange Act of 1934 to the U.S. Securities and Exchange Commission once all relevant Nasdaq appeal and review periods have concluded.

Given the impending suspension of trading on Nasdaq, Blue Star Foods foresees that its shares will transition to trading on the OTC Markets’ OTC Pink Current Information tier, continuing under the symbol “BSFC.” Additionally, the company aims to seek listing of its securities on the OTCQB as promptly as possible.

The filed 8-K disclosure fulfilled the obligatory reporting requirements dictated by the Securities Exchange Act of 1934. The report was officially signed on December 19, 2024, by John Keeler, the Executive Chairman and Chief Executive Officer of Blue Star Foods Corp.

This move from Nasdaq to OTC Markets signifies a significant development for Blue Star Foods, indicating a potential shift in trading dynamics as the company navigates through this transitional phase. Investors and stakeholders will be closely monitoring the company’s progression as it adapts to the changing listing environment and explores new trading avenues.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blue Star Foods’s 8K filing here.

About Blue Star Foods

Blue Star Foods Corp., through its subsidiaries, operates as a marine protein company in the United States and Canada. The company imports, packages, and sells refrigerated pasteurized crab meats and other premium seafood products. It sells its products primarily to food service distributors, as well as wholesalers, retail establishments, and seafood distributors under the Blue Star, Oceanica, Pacifika, Crab & Go, Lubkin's Coastal Pride, First Choice, Good Stuff, Coastal Pride Fresh, TOBC, and Little Cedar Farms brands.