Noodles & Company receives delisting determination letter

Core Viewpoint - Noodles & Company is facing imminent delisting from the Nasdaq Stock Market due to its stock price falling below the required minimum of $1 per share, with a current price of 63 cents as of December 22, 2025 [1] Group 1: Delisting and Compliance - The company received a delisting warning on June 24, 2025, and was given 180 days to comply with the minimum share price requirement [2] - Noodles & Company plans to request a hearing to stay the delisting process, which will allow it to continue trading while the hearing is pending [2] - A special stockholder meeting is scheduled for February 4, where the company will propose a reverse stock split to increase its share price [2] Group 2: Financial Performance and Strategy - The company has been attempting a turnaround for over a year, launching a revamped menu and operational improvements [4] - For the quarter ending September 30, the company reported a 4% increase in same-store sales, with October showing an 8% increase, despite a 0.5% decrease in total revenue and a net loss of $9.2 million [4] - Noodles & Company has engaged Piper Sandler to explore options for maximizing shareholder value, including a potential sale of the company [4] Group 3: Investor Actions - Activist investor Galloway Capital Partners has urged Noodles & Company to sell approximately 200 of its 349 company-owned restaurants [4]