Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On November 1, 2022, Zovio Inc (the "Company") received an expected written
notification (the "Notice") from the Listing Qualifications Department of the
NASDAQ Stock Market LLC ("Nasdaq") notifying the Company that the closing bid
price for its common stock had been below $1.00 for 30 consecutive business days
and that the Company therefore is not in compliance with the minimum bid price
requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq
Listing Rule 5550(a)(2).
In light of the Company's previously disclosed pending dissolution as authorized
by the Company's stockholders on October 25, 2022, the Company has elected not
to appeal the delisting of its common stock. Pursuant to the Notice, the
Company's common stock will therefor cease to trade on The Nasdaq Capital Market
following the close of business on November 10, 2022. At that time, the Company
has further instructed its transfer agent to close the Company's stock transfer
records and discontinue recording transfers of the Company's securities.
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