NEW YORK - Kidpik Corp. (NASDAQ: PIK), an online subscription-based children's apparel company, has announced its return to compliance with Nasdaq's Minimum Bid Price Requirement.
The company successfully executed a 1-for-5 reverse stock split on March 7, 2024, which resulted in the company's stock maintaining a closing bid price at or above $1.00 per share for a minimum of 10 consecutive days.
This strategic move by Kidpik, known for its curated clothing subscription boxes for kids, has rectified its standing with Nasdaq. Following the reverse stock split, the company's common stock achieved the required bid price threshold, allowing it to meet the exchange's listing criteria.
Kidpik, established in 2016, specializes in personalized fashion boxes for children, tailored to individual style preferences. The service aims to simplify the shopping process for parents while providing children with the excitement of fashion discovery. In addition to subscription boxes, Kidpik offers its branded clothing and footwear for direct purchase through its e-commerce platform.
The company's compliance with the Nasdaq listing requirements marks a positive development for Kidpik, as it continues to leverage its in-house design expertise and data-driven technology to cater to its members' style needs.
The information provided in this article is based on a press release statement from Kidpik Corp.
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