Valion Bio, Inc. (VBIO): Nasdaq/NYSE listing notice — Tivic Health receives Nasdaq delisting determination due to low bid price; plans appeal and reverse split vote

Valion Bio, Inc.

Nasdaq notified Tivic that its common stock closed at $0.10 or below for 10 consecutive days; delisting determination issued.
Company appealed; hearing set for Sept 21, 2023; trading stays during appeal process.
Prior reverse split vote at June 2023 annual meeting failed to pass (47% of outstanding shares voted in favor, needed majority).
July 2023 public offering included investor commitment to vote for reverse split; special meeting scheduled Aug 11, 2023.
CEO expresses confidence in regaining compliance by mid-August; stock continues trading on Nasdaq pending hearing.

Key facts

Extracted from this filing and checked against the source text.

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

Valion Bio, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)(iii)).

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

Exact text from the filing

July 24, 2023, as expected, the Company received a new notification letter from the Listing Qualifications Department of Nasdaq notifying the Company that, as of July 21, 2023, the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days and that, consistent with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the Staff has determined to delist the Company’s common stock from the Nasdaq Capital Market. The notice further provides that the Company has until July 31, 2023 to appeal the Staff’s decision. On July 27, 2023, the Company submitted a request for a heari

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Valion Bio, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-035581

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