# EDGAR Filing Document

**Accession Number:** 0001706524
**File Stem:** 0001213900-25-079944
**Filing Date:** 2025-8
**Character Count:** 20619
**Document Hash:** af249aa9f9f487ca2dc936500af94b0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-079944.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001213900-25-079944

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250818

**ITEM INFORMATION**: Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** urban-gro, Inc.
- **CENTRAL INDEX KEY:** 0001706524
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-MACHINERY, EQUIPMENT & SUPPLIES [5080]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 465158469
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39933
- **FILM NUMBER:** 251246686

**BUSINESS ADDRESS:**
- **STREET 1:** 1751 PANORAMA PT
- **STREET 2:** UNIT G
- **CITY:** LAFAYETTE
- **STATE:** CO
- **ZIP:** 80026
- **BUSINESS PHONE:** 720-390-3880

**MAIL ADDRESS:**
- **STREET 1:** 1751 PANORAMA PT
- **STREET 2:** UNIT G
- **CITY:** LAFAYETTE
- **STATE:** CO
- **ZIP:** 80026

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **August 18, 2025**

**URBAN-GRO, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39933** | **46-5158469** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **1751 Panorama Point, Unit G**<br> **Lafayette, Colorado** | **80026** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(720) 390-3880**

**Not applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on Which Registered** |
| **Common stock, par value $0.001 per share** | **UGRO** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.04** **Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.**

As previously disclosed, on December 13, 2023, UG Construction, Inc. d/b/a Emerald Construction Management, Inc. ("UG Construction"), a wholly owned subsidiary of urban-gro, Inc. (the "Company"), entered into an asset based revolving Loan Agreement (the "Line of Credit") with Gemini Finance Corp. ("Lender"), pursuant to which Lender extended to UG Construction a secured line of credit in an amount not to exceed $10,000,000. Also as previously disclosed, on July 31, 2025, the Lender issued a notice of default to UG Construction claiming that UG Construction was in default under the Line of Credit. The notice indicated that the remaining outstanding amount due under the Line of Credit of approximately $1.76 million is immediately due and payable with default of 1% per week accruing from the June 16, 2025 date of default claimed by the Lender.

On August 21, 2025, the Company received a notification from the Lender stating that the Lender would proceed with a foreclosure and private sale of substantially all of the assets of UG Construction in an Article 9 sale process, pursuant to Section 9601 et seq. of the California Commercial Code (the "Asset Sale"). The Asset Sale is expected to occur on September 4, 2025.

**Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing**

As previously reported, on May 21, 2025, the Company received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company had not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 (the "Form 10-Q") or its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the "Form 10-K"), the Company continued to be out of compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.

On August 18, 2025, the Company received a determination letter (the "Determination") from Nasdaq stating that Nasdaq had determined that the Company did not file the Form 10-K and the Form 10-Q by August 15, 2025, the date required for the delinquent filings by an exception previously received from Nasdaq staff. The Determination stated that, as a result, unless that Company timely requests an appeal, the trading of the Company's common stock (the "Common Stock") will be suspended at the opening of business on August 27, 2025 and (iii) a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on Nasdaq.

The Determination also stated that the Company is not in compliance (i) with Listing Rule 5250(c)(1) due to the Company's delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2025, and (ii) with Listing Rule 5550(b)(1), which requires the Company to maintain minimum stockholders' equity of $2.5 million. As previously reported, on February 24, 2025, Nasdaq notified the Company that it was not in compliance with Listing Rule 5550(b)(1) due to having stockholders' equity of less than $2.5 million.

The Determination informed the Company that it may appeal the decision to a Hearings Panel (the "Panel"). If the Company chooses to appeal, the request must be received by Nasdaq no later than 4:00 p.m. Eastern Time on August 25, 2025. The Company intends to request a hearing before the Panel, and this request will stay the suspension of the Company's Common Stock for a period of 15 days from the date of the request. In connection with this request, the Company plans to also request a stay of the suspension pending the hearing (the "Additional Stay").

There can be no assurance that the Company will be able to regain compliance with Nasdaq Listing Rules 5250(c)(1) and/or 5550(b)(1), or will otherwise be in compliance with other applicable Nasdaq Listing Rules, that the request for the Additional Stay will be granted, or that the Company's appeal of the delisting determination will be successful.

**Cautionary Statement Regarding Forward-Looking Statements**

The information in this Current Report on Form 8-K contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to, the Company's ability to return to and maintain compliance with Nasdaq continued listing standards; and those factors discussed in the Company's other filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the "Risk Factors" section of the documents to be filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. The Company does not give any assurance that the Company will achieve its expectations.

**Item 7.01. Regulation FD Disclosure.**

On August 22, 2025, the Company issued a press release disclosing the receipt of the Determination referenced above. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, unless specifically identified as being incorporated therein by reference.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits.**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Exhibit Description** |
| 99.1 | [Press Release dated August 22, 2025](ea025423401ex99-1_urban.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **URBAN-GRO, INC.** | **URBAN-GRO, INC.** |
| Date: August 22, 2025 | By: | */s/ Bradley Nattrass* |
|  |  | Bradley Nattrass |
|  |  | Chairperson of the Board of Directors and Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**urban-gro, Inc. Receives Nasdaq Delisting Determination;<br> Announces Comprehensive Review of Strategic Alternatives and Provides Corporate Update**

**LAFAYETTE, Colo., August 22, 2025 -** urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and design-build firm, today announced that it received a determination letter (the "Determination") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company's common stock is subject to delisting due to non-compliance with Nasdaq Listing Rules 5250(c)(1) and 5550(b)(1). The Determination follows the Company's inability to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and its Quarterly Reports on Form 10-Q for the periods ended March 31 and June 30, 2025, as well as its failure to maintain the minimum stockholders' equity of $2.5 million required under Listing Rule 5550(b)(1).

**Immediate Response and Appeal Process**

The Company plans to immediately appeal the Determination and request a hearing before the Nasdaq Hearings Panel. By filing this appeal request, the delisting determination will be stayed for 15 calendar days from the date the appeal is submitted. The Company also expects to request an additional stay pending the outcome of the hearing\. Until the hearing panel makes a determination regarding the stay request, the Company's common stock will continue to trade on Nasdaq.

The Company is working aggressively to present a compelling case for continued listing. There can be no assurance that the Company will be able to regain compliance with Nasdaq Listing Rules 5250(c)(1) and/or 5550(b)(1), or will otherwise be in compliance with other applicable Nasdaq Listing Rules, that the request for the additional stay will be granted, or that the Company's appeal of the delisting determination will be successful.

**Comprehensive Turnaround Strategy in Motion**

Despite the challenges outlined in the Determination, urban-gro has implemented a comprehensive multi-pronged strategy designed to strengthen its financial position, restore regulatory compliance, and enhance long-term shareholder value:

**Operational Excellence and Cost Management**

● **Actioned over $10 million in expected annualized operating expense savings** through strategic cost-reduction measures in 2025

● Streamlined operations across all business units to maximize efficiency

● Implemented rigorous cash flow management protocols

● Restructured management compensation and incentive programs to align with performance milestones

**Strategic Asset Optimization**

● **Actively working to divest non-core assets**: Entered into a Letter of Intent to sell the GA Architecture asset

● Conducting comprehensive portfolio review to identify additional optimization opportunities

● Exploring strategic partnerships and joint ventures to unlock asset value

● Evaluating potential spin-off opportunities for certain business units

**Capital Structure and Funding Initiatives**

The Company is actively pursuing multiple potential funding avenues simultaneously, including:

● Strategic investor partnerships with industry leaders

● Debt restructuring and refinancing opportunities

● Equipment financing and asset-backed lending facilities

● Potential equity financing options

● Revenue-based financing arrangements

● Government grant opportunities within the controlled environment agriculture sector

**Regulatory Compliance Acceleration**

● **Dedicated compliance team established** with external audit and legal support

● Aggressive timeline established for completing all outstanding filings

**Leadership Commitment and Corporate Governance**

Bradley Nattrass, Chairperson and Chief Executive Officer of urban-gro, stated: "We are treating this Nasdaq determination with the utmost seriousness and are taking immediate action to address the related compliance issues. While we are disappointed by this development, we anticipated this outcome given our filing delays and are prepared with a comprehensive response plan.

"Our organization has been working diligently to complete the required filings since involuntarily changing auditors and re-filing our 2022 and 2023 financials. We understand the challenges this creates for our shareholders and are committed to transparent communication as we work to restore compliance and strengthen our foundation. Additionally, while working capital constraints have created challenges, we have never wavered in our commitment to our shareholders, employees, and customers.

We have already taken decisive action to strengthen our financial position, including targeted cost management measures that are expected to has already deliver over $10 million in annualized savings, asset optimization including the initiating the GA Architect divestiture. Simultaneously, we are pursuing multiple funding opportunities and working with our compliance team to complete all outstanding filings on an accelerated timeline.

"We are not simply reacting to these challenges – we are using them as a catalyst to emerge as a stronger, more focused organization. The controlled environment agriculture market continues to show tremendous promise, and urban-gro's integrated solutions platform positions us uniquely to capitalize on this growth once we restore our financial foundation. I want to personally assure our stakeholders that every member of our leadership team is fully committed to navigating this process and maximizing shareholder value."

**About urban-gro, Inc.**

urban-gro, Inc.<sup>®</sup> (Nasdaq: UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ("CEA"), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver *Your Vision - Built*. Learn more by visiting www.urban-gro.com.

**Safe Harbor Statement**

 

*This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as "believes," "will," "expects," "anticipates," "may," "projects" and similar expressions and variations as they relate to the Company, or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, statements regarding the Company's appeal of the Nasdaq Determination, its efforts to regain compliance with Nasdaq listing standards, its ability to obtain financing or enter into partnerships, expected cost savings from cost-reduction measures, and its strategic initiatives. These and other forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to negotiate and execute definitive transaction documents on the terms described herein or at all, our ability to successfully manage and integrate acquisitions, our ability to accurately forecast revenues and costs, competition for projects in our markets, factors that could cause delays or the cancellation of projects in our backlog or our ability to secure future projects, our ability to maintain favorable relationships with suppliers, risks associated with reliance on key customers and suppliers, our ability to attract and retain key personnel, results of litigation and other claims and insurance coverage issues, our ability to maintain effective internal controls, our ability to execute on our strategic plans, our ability to achieve and maintain cost savings, our ability to remain listed on the Nasdaq Capital Market, and our ability to make required filings with the Securities and Exchange Commission. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.*

**Investor Contacts:**

investors@urban-gro.com