Functional Brands faces Nasdaq delisting after stock falls below $0.10

Functional Brands Inc. (NASDAQ: MEHA) received a delisting determination from NASDAQ on June 9, 2026, after its stock price fell to $0.10 or below for ten consecutive trading days.

The company's stock trading will be suspended at market opening on June 16, 2026. NASDAQ will file a Form 25-NSE with the Securities and Exchange Commission to remove the company's securities from listing and registration.

Functional Brands previously received notice on December 30, 2025, that its closing bid price had been below $1.00 per share for 30 consecutive business days, violating NASDAQ Listing Rule 5550(a)(2). The company was given 180 calendar days until June 29, 2026, to regain compliance with the minimum bid price requirement.

The delisting determination was issued under NASDAQ Listing Rule 5810(c)(3)(A)(iii), which requires the Listing Qualifications Department to issue a delisting determination when a company's security has a closing bid price of $0.10 or less for ten consecutive trading days during any compliance period.

The company may request a hearing before the NASDAQ Hearings Panel to appeal the determination. A hearing request must be submitted with a non-refundable $20,000 fee by 4:00 p.m. Eastern Time on June 16, 2026. The hearing request will not prevent the trading suspension.

Functional Brands operates in the wellness and performance products sector, with a portfolio that includes Kirkman nutritional supplements and a telehealth platform. The company operates an FDA-registered manufacturing facility in Oregon.

The company stated there is no assurance it will be successful in its appeal or able to regain compliance with NASDAQ's listing requirements within any timeframe that may be provided by the panel.

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