FORUM MARKETS Inc (FRMM): Nasdaq/NYSE listing notice — 180 Life Sciences receives Nasdaq non-compliance notice over shareholder approval for offering

FORUM MARKETS Inc

Received Nasdaq notice on Oct 11, 2023 for violating Listing Rule 5635(d) requiring shareholder approval.
Offering involved 666,925 shares at $0.65, pre-funded warrants for 3.95M shares at $0.6499, and 4.62M common warrants.
Nasdaq ruled that the best-efforts offering with one investor buying 98% was not a public offering.
No immediate impact on listing; Company has 45 days to submit a plan, with possible 180-day extension.
Company intends to submit a compliance plan but cannot guarantee acceptance or regaining compliance.

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 0.95

FORUM MARKETS Inc received a nasdaq deficiency notice notice regarding other (rules 5635(d)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5635(d)

Exact text from the filing

of Nasdaq’s shareholder approval rules due to the type of offering, a best efforts offering pursuant to a placement agency agreement, and the fact that one investor purchased 98% of the Offering. As a result, because the Offering represented greater than 20% of the Common Stock outstanding and was priced below the Minimum Price, the Staff determined that

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FORUM MARKETS Inc filing history →

Source: SEC EDGAR

accession 0001013762-23-003854

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