FlexShopper Regains Compliance with Nasdaq Minimum Bid Price Requirement

FlexShopper, a lease-to-own retailer and financing solutions provider, has regained compliance with Nasdaq’s Minimum Bid Price Requirement after the closing bid price of its common stock

FlexShopper Regains Compliance with Nasdaq Minimum Bid Price Requirement

FlexShopper, a lease-to-own retailer and financing solutions provider for underserved consumers, has announced that it has regained compliance with the Nasdaq’s Minimum Bid Price Requirement. The company had received a letter from Nasdaq on April 21, 2023, notifying them that they no longer complied with the $1.00 per share minimum bid price requirement for continued listing on The Nasdaq Capital Market. However, on May 31, 2023, FlexShopper received a Compliance Notice from Nasdaq stating that the closing bid price of the company’s common stock had been at $1.00 per share or greater for the last 11 consecutive business days.

FlexShopper provides electronics, home furnishings and other durable goods to underserved consumers on a lease-to-own basis through its patented e-commerce marketplace. In addition to this, the company also provides LTO and loan technology platforms to retailers and e-retailers to facilitate transactions with consumers without access to traditional financing.

All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements describe FlexShopper’s future plans and strategies and are generally noted in the risks and uncertainties described in their Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q.

The forward-looking statements made in this release speak only as of the date of this release. FlexShopper assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations unless required by law.