Hyperfine, Inc. (HYPR): Nasdaq/NYSE listing notice — Hyperfine corrects prior 8-K; confirms controlled company exemption from Nasdaq independent board requirement

Hyperfine, Inc.

Original November 14, 2022 Form 8-K erroneously reported non-compliance with Nasdaq Majority Independent Board rule.
Company qualifies as a 'controlled company' under Nasdaq Rule 5615(c), exempting it from that requirement.
Nasdaq has withdrawn its notice of non-compliance after being informed of the controlled company status.
Company still plans to recruit and appoint an independent director.
Filed as Amendment No. 1 to the 8-K.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Hyperfine, Inc. received a nasdaq noncompliance notice notice regarding board independence (rules 5605(b)(1), 5615(c)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: board independence
Rules: 5605(b)(1), 5615(c)

Exact text from the filing

November 7, 2022. However, the Company’s notice to Nasdaq was in error. As previously disclosed, the Company is relying on the controlled company exemption in Nasdaq Listing Rule 5615(c), which exempts controlled companies (defined as a company of which more than 50% of the voting power for the election of directors is held by an individual, a group, or another company) from the requirements of certain corporate governance rules, including Nasdaq’s Majority Independent Board requirement. Nasdaq has been informed that the Company is a “controlled company” and has withdrawn its notice. Despite t

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Hyperfine, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-22-025190

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