Sotherly Hotels (SOHO) faces Nasdaq delisting over share price

Sotherly Hotels Inc. (NASDAQ: SOHO) received a deficiency notice from The Nasdaq Stock Market LLC on Monday, warning that the company's stock price has not met the minimum bid requirement for continued listing on The Nasdaq Global Market. Currently trading at $0.85, down about 31% over the past six months, the company's common stock has closed below the required $1.00 per share for the last 30 consecutive business days, violating Nasdaq's Listing Rule 5450(a)(1).

Despite the notice, Sotherly Hotels' stock will continue to trade on the Nasdaq under the ticker symbol "SOHO." The company has until August 11, 2025, to regain compliance by ensuring its common stock's bid price closes at $1.00 per share or higher for at least 10 consecutive business days.

If compliance is not achieved by the deadline, Sotherly Hotels may have the opportunity to secure an additional 180 days to meet the requirements by transitioning to The Nasdaq Capital Market, provided it meets all other listing criteria except for the minimum bid price.

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