SPRUCE BIOSCIENCES, INC. (SPRB): Nasdaq/NYSE listing notice — Spruce Biosciences receives Nasdaq minimum bid price non-compliance notice

SPRUCE BIOSCIENCES, INC.

Nasdaq notified Spruce on April 26, 2024 that its stock bid price was below $1.00 for 30 consecutive business days.
Company has 180 calendar days (until October 23, 2024) to regain compliance by closing at $1.00+ for 10 consecutive days.
If not compliant, Spruce may transfer to Nasdaq Capital Market for an additional 180-day cure period if it meets other listing standards.
Failure to regain compliance could lead to delisting; the company says it will monitor its stock price and consider options.

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

SPRUCE BIOSCIENCES, INC. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

April 26, 2024, Spruce Biosciences, Inc. (the “ Company ”) received a notice from The Nasdaq Global Select Market (“ Nasdaq ”) that the Company is not in compliance with Nasdaq’s Listing Rule 5450(a)(1), as the minimum bid price of the Company’s common stock has been below $1.00 per share for 30 consecutive business days. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Global Select Market. The Company has 180 calendar days, or until October 23, 2024, to regain compliance with the minimum bid price requirement. To

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Source: SEC EDGAR

accession 0000950170-24-050612

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