ATECH (PARENT) RESOLUTION CORP.: Nasdaq/NYSE listing notice — Akoustis receives Nasdaq notice: bid price below $1.00 for 30 days; faces delisting risk

ATECH (PARENT) RESOLUTION CORP.

Nasdaq notified Akoustis on Oct 24, 2023 that its common stock bid price closed below $1.00 for 30 consecutive days, violating Rule 5550(a)(2).
Company has 180 days, until April 22, 2024, to regain compliance by achieving closing bid price >= $1.00 for 10 consecutive trading days.
If not compliant by April deadline, Akoustis may qualify for an additional 180-day grace period if it meets other Nasdaq initial listing standards.
Non-compliance or delisting would materially and adversely affect ability to raise capital, financial condition, and business.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ATECH (PARENT) RESOLUTION CORP. 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)

Exact text from the filing

October 24, 2023, Akoustis Technologies, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of Nasdaq Stock Market (“Nasdaq”) indicating that, because the closing bid price for the Company’s common stock has fallen below $1.00 per share for 30 consecutive trading days, the Company was no longer in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). The Notice has no immediate effect on the listing of the Company’

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Source: SEC EDGAR

accession 0001013762-23-007328

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