Palladyne AI Corp. (PDYN): Nasdaq/NYSE listing notice — Sarcos receives Nasdaq delisting notice for bid price below $1.00

Palladyne AI Corp.

Received Nasdaq notice on Oct 24, 2023 for failing minimum bid price of $1.00 for 30 consecutive business days.
Has 180 calendar days, until April 22, 2024, to regain compliance by closing bid at $1.00 for 10 consecutive days.
If not compliant, may transfer to Nasdaq Capital Market for additional 180-day period, subject to meeting other listing standards.
Company considering options including reverse stock split; 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

Palladyne AI Corp. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

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

Exact text from the filing

October 24, 2023, Sarcos Technology and Robotics Corporation (the “Company”) received written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that, based on the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for the last 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Global Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $

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Palladyne AI Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-055984

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