Beasley Media Group’s ongoing financial struggles have produced a new compliance hurdle. Nasdaq notified the company on April 13 that its reported stockholders’ deficit puts it out of compliance with its equity requirement for continued listing on the exchange.
Nasdaq’s rules require companies listed on the Capital Market to maintain a minimum of $2.5 million in stockholders’ equity. Beasley’s reported deficit of $49,330,431 falls well short of that threshold, and the company does not currently meet any of the alternative continued listing standards.
This is also not the first listing challenge for the company. Beasley received a delisting warning in October 2023 over its stock falling below Nasdaq’s $1 minimum share price, and executed a 1-for-20 reverse stock split in September 2024 to address that issue.
The notice does not immediately affect trading of Beasley’s common stock, which continues on the Nasdaq Capital Market under the symbol BBGI. The company has until May 28 to submit a compliance plan. If Nasdaq accepts the plan, Beasley could receive up to 180 additional days, extending the window to October 10, 2026, to demonstrate compliance.
Beasley says it is evaluating options and working to determine whether the expected accounting impacts of previously announced transactions would push stockholders’ equity above the threshold.
The Nasdaq notice adds to a difficult stretch for Beasley. The company posted a $196.5 million net loss for full-year 2025, driven largely by a $224.8 million non-cash impairment charge against its FCC licenses, and ended the year with a going concern opinion from its auditors. The company is executing a deal with second lien bondholders that would cut second lien debt by approximately 50% and reduce total outstanding debt from roughly $220 million to $110 million, with closing expected by the end of April. Full-year net revenue fell to $205.9 million from $240.3 million in 2024.
