---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-066407"
form_type: "8-K"
ticker: null
cik: "0001588972"
company_name: "Societal CDMO, Inc."
filed_at: "2023-11-28T23:59:59+00:00"
generated_at: "2026-06-07T21:01:56.301109+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Societal CDMO receives 180-day Nasdaq extension; cuts property sale price by $1M

## Summary
- Nasdaq granted additional 180 days until May 20, 2024 to meet minimum $1 bid price requirement.
- Company may consider reverse stock split to regain compliance.
- Subsidiary reduced purchase price for Hall County, GA property from $9,075,000 to $8,067,500.
- Purchaser paid additional $50,000 non-refundable earnest money deposit.

## SEC filing metadata
- accession: 0000950170-23-066407
- form_type: 8-K
- cik: 0001588972
- company_name: Societal CDMO, Inc.
- filed_at: 2023-11-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1588972/000095017023066407/0000950170-23-066407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1588972/000095017023066407/sctl-20231121.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-066407
- JSON: https://secwatch.observer/filing/0000950170-23-066407.json
- Plain text: https://secwatch.observer/filing/0000950170-23-066407.txt

## Key facts
- Listing & Compliance Notices
  Societal CDMO, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)
  source text: November 21, 2023, the Company received a second letter from the Staff advising that the Company had been granted an additional 180 calendar days, or until May 20, 2024 (the “Extended Compliance Period”), to regain compliance with the Minimum Bid Price Requirement in accordance with Nasdaq Listing Rule 5810(c)(3)(A). If at any time during the Extended Compliance Period, the closing bid price of the Company’s common stock is at least $1.00 per share for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance with the Minimu
  evidence_url: https://www.sec.gov/Archives/edgar/data/1588972/000095017023066407/0000950170-23-066407-index.htm
- Material Agreements
  Societal CDMO, Inc. amended Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions with Weekley Homes, LLC valued at $9,075,000 to $8,067,500 (effective 2023-11-27).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Weekley Homes, LLC
  - Value: $9,075,000 to $8,067,500
  - Effective: 2023-11-27
  source text: entered into a Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions (the “Amendment”) with Weekley Homes, LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/1588972/000095017023066407/0000950170-23-066407-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.