Canopy Growth Corp (CGC) · Oct 16, 2026 · Delisting
Nasdaq deficiency — Below $1 for 30 consecutive business days; cure deadline April 12, 2027
Canopy Growth received a Nasdaq deficiency notice after 30 days below $1, putting its pending reverse-split vote on the critical path.
Canopy is trying to turn a post-restructuring cannabis portfolio into a growing, net-cash operator, with recent revenue growth across its Canadian, international and device businesses and debt maturities extended to 2031. This filing adds a listing-risk problem to that turnaround: Nasdaq says the shares have closed below $1 for 30 straight business days.
The immediate consequence is a forced capital-structure decision, not an immediate delisting. Canopy has until April 12, 2027 to regain compliance by staying at or above $1 for at least 10 consecutive business days, and a reverse split would need to be completed at least 10 business days before that deadline. 〔0〕 The company already had a 1-for-5-to-1-for-15 share-consolidation proposal outstanding, so the direction was partly known; the new information is that Nasdaq compliance now makes the October 23 shareholder vote materially more consequential. 〔1〕
The notice does not threaten the business today, but it raises execution and dilution risk around the turnaround. Nasdaq trading continues for now, and the notice does not affect Canopy’s Toronto Stock Exchange compliance. 〔2〕 If the first cure period fails, Canopy may seek another 180 days by transferring to Nasdaq’s Capital Market, but failure there could lead to a delisting determination and appeal process. 〔3〕
Bottom line: This is a manageable warning rather than a delisting, but it shifts the reverse split from a standing proposal into a near-term requirement the turnaround now has to solve. The event is mildly negative versus the prior situation because Canopy’s listing runway is finite, even though shareholders still have time to cure the deficiency.
Reverse-split vote at the October 23, 2026 annual meeting
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