Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously noted on the Company's Form 8-K filed with the Securities and
Exchange Commission on December 15, 2022, Kaspien Holdings Inc. (the "Company")
had received written notice from The Nasdaq Stock Market ("Nasdaq") that the
Company is not in compliance with the minimum bid price requirement for
continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule
5550(a)(2), and must regain compliance with that requirement by June 12, 2023.
Separately, on May 4, 2023, the Company received written notice from Nasdaq that
given the reported stockholders' equity on the Company's Form 10-K for the year
ended January 28, 2023, the Company also is not in compliance with the minimum
stockholders' equity requirement for continued listing on The Nasdaq Capital
Market under Nasdaq Listing Rule 5550(b)(1).
In accordance with the Nasdaq Listing Rules, the Company has been provided a
period of 45 calendar days, or until June 20, 2023, to submit a plan to Nasdaq
to regain compliance with the minimum stockholders' equity requirement. If the
Company's plan is accepted, Nasdaq may grant an extension of up to 180 calendar
days from the date of its letter, or until October 31, 2023, for the Company to
evidence compliance. If the Company's plan is not accepted, the Company expects
that at that time Nasdaq will provide written notice to the Company that the
Company's common stock will be subject to delisting.
Neither notice has an immediate impact on the listing of the Company's common
stock, which will continue to trade on The Nasdaq Capital Market.
The Company continues to monitor its closing bid price for its common stock and
to consider available options to resolve the Company's noncompliance with the
minimum bid price requirement and noncompliance with the minimum stockholders'
equity requirement.
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KASPIEN HOLDINGS 
