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Stryve Foods, Inc. – ‘8-K’ for 2/1/23

On:  Thursday, 2/2/23, at 6:05am ET   ·   For:  2/1/23   ·   Accession #:  1493152-23-3354   ·   File #:  1-38785

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/02/23  Stryve Foods, Inc.                8-K:3,7     2/01/23   11:252K                                   M2 Compliance LLC/FA

Current Report   —   Form 8-K

Filing Table of Contents

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                snax-20230201                                                    
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‘8-K’   —   Current Report


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 i 0001691936  i false 0001691936 2023-02-01 2023-02-01 0001691936 SNAX:ClassCommonStockMember 2023-02-01 2023-02-01 0001691936 SNAX:WarrantsEachExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerShareMember 2023-02-01 2023-02-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM  i 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  i February 1, 2023

 

 i STRYVE FOODS, INC.

(Exact name of registrant as specified in its charter)

 

 i Delaware    i 001-38785    i 87-1760117

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

 

 i 5801 Tennyson Parkway,  i Suite 275

 i Plano,  i TX

   i 75024
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:  i (972)  i 987-5130

 

 i Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 i  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
 i  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
 i  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
 i  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
 i Class A Common Stock    i SNAX   The  i Nasdaq Stock Market LLC
 i Warrants, each exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share    i SNAXW   The  i Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  i 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  i 

 

 

 

 C: 
 

 

 

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

As previously reported, on August 4, 2022, Stryve Foods, Inc. (the “Company”), received written notice from the Nasdaq Stock Market, LLC (“Nasdaq”) indicating that the bid price for the Company’s Class A common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share and, as a result, the Company is not in compliance with the $1.00 minimum bid price requirement for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”).

 

On February 1, 2023, the Company received written notification from the Listing Qualifications Department of Nasdaq, granting the Company’s request for a 180-day extension to regain compliance the Bid Price Rule. The Company now has until July 31, 2023 to meet the requirement. If at any time prior to July 31, 2023, the bid price of the Company’s Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will regain compliance with the Bid Price Rule.

 

If the Company does not regain compliance with the Bid Price Rule during the additional 180-day extension, Nasdaq will provide written notification to the Company that its Class A common stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful.

 

Nasdaq’s extension notice has no immediate effect on the listing or trading of the Company’s Class A common stock, which will continue to trade on the Nasdaq Capital Market under the symbol “SNAX”. The Company intends to actively monitor the closing bid price of its Class A common stock and may, if appropriate, consider implementing available options to regain compliance with the Bid Price Rule under the Nasdaq Listing Rules, such as a reverse stock split.

 

Item 7.01 Regulation FD Disclosure.

 

To clarify recent media and social media reports, the Company did not acquire Quevos and Quevos is not associated with Stryve or any of its subsidiaries. Rather, Joe Oblas, our former Chief Growth Officer, acquired Quevos.

 

 C: 
 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: February 2, 2023

 

  STRYVE FOODS, INC.
     
  By: /s/ R. Alex Hawkins
  Name: R. Alex Hawkins
  Title: Chief Financial Officer

 

 C: 
 

 C: 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
7/31/23
Filed on:2/2/23
For Period end:2/1/23
8/4/228-K,  UPLOAD
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/13/23  Stryve Foods, Inc.                424B5                  1:371K                                   M2 Compliance LLC/FA
 6/30/23  Stryve Foods, Inc.                S-3                    6:801K                                   M2 Compliance LLC/FA
 6/30/23  Stryve Foods, Inc.                S-8         6/30/23    4:127K                                   M2 Compliance LLC/FA
 5/19/23  Stryve Foods, Inc.                POS AM                 2:258K                                   M2 Compliance LLC/FA
 5/19/23  Stryve Foods, Inc.                POS AM                 2:235K                                   M2 Compliance LLC/FA
 5/19/23  Stryve Foods, Inc.                S-3                    4:292K                                   M2 Compliance LLC/FA
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