Nvni Group (NVNI) said late Thursday it received a notice from Nasdaq for noncompliance with the minimum $1 bid price and $35 million market value requirements.

The company has until Oct. 13 to regain compliance. Its shares will remain listed during this period, according to the statement.

Nvni said it may consider a reverse stock split, which was approved at a March 20 shareholder meeting.

Shares of Nvni were down over 3% in after-hours trading.