Snail, Inc. (NASDAQ: SNAL) announced it received a written decision from the Nasdaq Hearings Panel granting the company's request to continue listing its Class A Common Stock on The Nasdaq Capital Market, subject to specific conditions.

According to the press release, the panel's decision requires the company to demonstrate compliance with Nasdaq Listing Rule 5550(b) by achieving a minimum stockholders' equity of at least $2,500,000 within a prescribed time period. The company must also file timely public disclosures describing the transactions undertaken to achieve compliance and providing an indication of its equity following those transactions.

The panel's decision also requires Snail to provide prompt notification of any significant events during the prescribed period that may affect its compliance with Nasdaq requirements. The panel has reserved the right to reconsider the terms of its decision based on any event or circumstance that could make continued listing inadvisable.

Snail's Class A Common Stock will continue to trade under the symbol "SNAL" during the prescribed period, provided the company satisfies the panel's conditions. The company stated it is working to regain compliance with the equity rule, though it noted there is no assurance it will satisfy the conditions. A failure to do so would result in delisting from Nasdaq.