Societal CDMO, Inc.: Nasdaq/NYSE listing notice — Societal CDMO receives Nasdaq deficiency letter for stock price below $1.00

Societal CDMO, Inc.

Received deficiency letter on May 23, 2023 for closing bid price below $1.00 for 30 consecutive days.
Stock continues trading on Nasdaq under SCTL; no immediate delisting effect.
Company has 180 days until November 20, 2023 to regain compliance by closing at $1.00+ for 10 consecutive days.
If not compliant by Nov 20, may qualify for second 180-day period if other listing standards met.
Company will monitor bid price and consider options to resolve deficiency.

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

Societal CDMO, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

May 23, 2023, Societal CDMO, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”). The Nasdaq deficiency letter only pertains to the Company’s stock price, and there are no other deficiencies related to the

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Source: SEC EDGAR

accession 0000950170-23-024502

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