Akanda Corp. (NASDAQ:AKAN) experienced a notable premarket uptick of 22% on Friday after receiving written confirmation from Nasdaq that it had returned to compliance with the exchange's reporting requirements.
Nasdaq's written notice, dated June 10, confirmed that Akanda met the conditions of Listing Rule 5250(c)(1), which governs the timely submission of periodic financial reports to the U.S. Securities and Exchange Commission. The compliance determination followed the company's filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2025.
The path to that notice began when Nasdaq sent Akanda a non-compliance notification on May 20. That earlier notice cited the company's failure to file the required Form 20-F for the fiscal year in question. Akanda subsequently filed the overdue Form 20-F with the SEC on June 9, and Nasdaq closed the matter after reviewing the filing.
The company is headquartered in Toronto and operates a Canadian cannabis subsidiary focused on cultivating and distributing cannabis and related wellness products. The Nasdaq correspondence and the Form 20-F filing together resolved the specific reporting deficiency referenced in Nasdaq's May 20 communication.
Investors reacted in premarket trading to the exchange's June 10 confirmation of compliance, sending the stock higher by 22% on the day. The Nasdaq notice specifically referenced compliance with the exchange rule that requires registrants to maintain up-to-date periodic filings with the SEC.
While the immediate market response was positive, the record shows the company had been cited for not meeting the filing deadline, prompting Nasdaq's May 20 action. The company addressed that deficiency with the June 9 filing, after which Nasdaq closed the review and provided written confirmation of compliance on June 10.
No additional statements from the company or Nasdaq are included here beyond the timeline of notices and filings. The facts are limited to the exchange's written confirmation, the dates of the notices and the Form 20-F filing, and Akanda's description as a Toronto-based operator of a cannabis subsidiary focused on cultivation and distribution of cannabis and wellness products.