Akili, Inc.: Nasdaq/NYSE listing notice — Akili receives Nasdaq bid price deficiency notice; 180-day cure period until Apr 2024

Akili, Inc.

Nasdaq staff notified Akili on Oct 24, 2023 that bid price closed below $1.00 for 30 consecutive days from Sep 11 to Oct 23.
Company has 180 calendar days, until April 22, 2024, to regain compliance by achieving a $1.00 closing bid price for at least 10 consecutive business days.
If not cured by April 22, Akili may be eligible for an additional 180-day period if it meets all other Capital Market listing standards, excluding bid price.
Company may consider a reverse stock split to regain compliance, but no decision has been made and no assurance of success.
Listing on Nasdaq Capital Market continues normally during the cure period; delisting risk remains if deficiency not resolved.

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

Akili, 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

October 24, 2023, Akili, Inc. (the “Company”), received a letter from the Listing Qualifications Staff (the “Nasdaq Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that for the 30 consecutive business days from September 11, 2023, through October 23, 2023, the bid price of the Company’s common stock, par value $0.0001 per share (“common stock”) had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company’s c

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Source: SEC EDGAR

accession 0000950170-23-056008

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