secwatch.observer — SEC 8-K summary
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Issuer:     Gardiner Healthcare Acquisitions Corp. (—)
CIK:        0001858912
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001104659-23-042751
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gardiner Healthcare receives Nasdaq deficiency notice for MVLS below $50M; enters $167K convertible note
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- Nasdaq notified company that common stock MVLS was below $50M for 30 consecutive trading days; 180-day cure period ends Sept 27, 2023.
- Company borrowed $167,000 via unsecured convertible note from Moss Ridge PTY LTD, convertible into warrants at $1.00 per warrant.
- Each warrant from conversion entitles holder to purchase one share of common stock at $11.50 per share.
- Sponsors agreed to transfer shares to lender as inducement: 4.992 shares per $100 loaned, subject to performance milestones.
- If compliance not regained by Sept 27, 2023, Nasdaq may delist securities; company may appeal or transfer to Nasdaq Capital Market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1858912/000110465923042751/0001104659-23-042751-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1858912/000110465923042751/tm2311846d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-042751

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