IPST · Heritage Distilling Holding Company, Inc.

Summary

On March 20, 2026, IP Strategy Holdings, Inc. received a notice from Nasdaq indicating its common stock failed the Minimum Bid Price Requirement under Nasdaq Listing Rule 5550(a)(2), with closing bid price below $1.00 for 30 consecutive business days, and is ineligible for a compliance period due to a prior 1-for-20 reverse stock split on November 5, 2025. The Company plans to appeal the delisting determination by March 27, 2026, and seek stockholder approval for another reverse stock split at a special meeting on April 10, 2026.

Key takeaways

• Nasdaq notice received March 20, 2026, for common stock (par value $0.0001) failing Minimum Bid Price Requirement (below $1.00 for 30 consecutive business days)
• Ineligible for 180-day compliance period per Nasdaq Listing Rule 5810(c)(3)(A)(iv) due to 1-for-20 reverse stock split on November 5, 2025
• Plans to file appeal with Nasdaq no later than March 27, 2026, staying delisting pending hearing
• Filed SEC proxy statement on March 20, 2026, for special stockholder meeting on April 10, 2026 (record date March 19, 2026)
• Proposal for new reverse stock split at ratio 1:3 to 1:20, to be determined by board if approved