12:34 PM EDT, 10/10/2024 (MT Newswires) -- Stryve Foods ( SNAX ) said Thursday it intends to regain compliance with Nasdaq's minimum stockholders' equity rule by completing an underwritten public offering.

At a hearing before a Nasdaq panel on Nov. 26, the company said it would seek a suspension of delisting pending its return to compliance, according to a Form 8-K filed with the US Securities and Exchange Commission.

The company said its class A common stock and warrants will remain listed on the exchange at least until the panel delivers a decision after the hearing.

In an amended registration statement filed Thursday, the company said it is offering up to roughly 10.9 million class A common shares in a firm commitment underwritten public offering.

Shares of Stryve Foods ( SNAX ) retreated 20.1% in recent trading.

Price: 1.06, Change: -0.27, Percent Change: -20.08