Apexigen, Inc.: Nasdaq/NYSE listing notice — Apexigen receives Nasdaq notice for bid price non-compliance; 180-day cure period

Apexigen, Inc.

Nasdaq notified Apexigen on April 11, 2023 that its common stock failed to meet minimum $1.00 bid price for 30 consecutive business days.
Company has 180 calendar days to regain compliance by closing at $1.00 for at least 10 consecutive business days.
If not cured, a second 180-day period may be available if other listing standards are met and company notifies Nasdaq of intent to reverse split.
Failure to regain compliance could lead to delisting of APGN and APGNW from Nasdaq Capital Market.
Apexigen intends to monitor bid price and explore actions but gives 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

Apexigen, Inc. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

April 11, 2023, Apexigen, Inc. (the “Company”) received a written notice from the Listing Qualifications Staff of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it has not been in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for a period of 30 consecutive business days (the “Notice”). This Notice has no immediate effect on the listing of the Company’s stock on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided a compliance period of 180 calendar days from the date of the Notice

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Source: SEC EDGAR

accession 0000950170-23-012571

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