Surrozen, Inc./DE (SRZN): Nasdaq/NYSE listing notice — Surrozen receives Nasdaq notice for non-compliance with $1.00 minimum bid price

Surrozen, Inc./DE

Average closing price of common stock fell below $1.00 over 30 consecutive trading days as of Jan 3, 2023.
Company has 180 days, until July 3, 2023, to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not cured, Surrozen may be eligible for a second 180-day period if it meets other initial listing standards.
Notice has no immediate effect on listing; stock continues to trade on Nasdaq Capital Market.
Company will monitor bid price and evaluate options; no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

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

Surrozen, Inc./DE received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

January 4, 2023, Surrozen, Inc. received a written notice from The Nasdaq Stock Market, LLC (“Nasdaq”) notifying us that on January 3, 2023, the average closing price of our common stock over the prior 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price required to maintain listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have 180 calendar days to regain compliance with the Minimum Bid Requirement (the “Grace Period”), subject t

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Surrozen, Inc./DE filing history →

Source: SEC EDGAR

accession 0000950170-23-000250

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