Snail Games granted continued Nasdaq listing with conditions

CULVER CITY, Calif. - Nasdaq's Hearings Panel has granted Snail, Inc. permission to retain its Class A Common Stock listing on The Nasdaq Capital Market, contingent upon fulfilling certain conditions, as reported in a recent press release. To maintain its listing, Snail must prove it possesses a minimum stockholders’ equity of $2,500,000 or more within a defined period.

The company is additionally obligated to submit timely disclosures regarding the actions taken to attain compliance and indicate its equity post-transactions. The Panel mandates Snail to promptly inform of any significant events during the specified timeframe that could impact its Nasdaq compliance. The Panel retains the discretion to reassess its decision based on any circumstance that could make continued listing unsuitable.

Snail's Class A Common Stock will continue trading on The Nasdaq Capital Market under the ticker SNAL during the mandatory period, pending compliance with the stipulated conditions. The company affirmed it is actively striving to regain compliance with the equity rule, with any compliance submission subject to Panel review. The release highlighted that there is no guarantee Snail will meet the conditions or restore compliance, which would lead to delisting of its securities from Nasdaq.

Snail, Inc. specializes in developing and publishing interactive digital entertainment for gaming platforms such as consoles, PCs, and mobile devices.