SEELOS THERAPEUTICS, INC.: Nasdaq/NYSE listing notice — Seelos receives Nasdaq delisting notice; plans to appeal and may pursue reverse stock split

SEELOS THERAPEUTICS, INC.

Nasdaq notified Seelos on May 23, 2023 that it failed to regain compliance with $1.00 bid price rule.
Company is ineligible for a second 180-day compliance period because stockholders' equity is below $5M.
Seelos will request a hearing by May 30, 2023, staying suspension until the panel rules.
Hearing plan may include a reverse stock split to regain compliance with Rule 5550(a)(2).
If appeal is denied, common stock will be delisted from Nasdaq Capital Market.

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 0.98

SEELOS THERAPEUTICS, INC. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

May 23, 2023, the Listing Qualifications Staff of Nasdaq (the “Staff”) provided a notice to the Company (the “Nasdaq Notice”) that the Company has not regained compliance with Rule 5550(a)(2) and is not eligible for a second 180 calendar day compliance period as the Company does not comply with the minimum $5,000,000 stockholder’s equity requirement for initial listing on the Nasdaq Capital Market. The Nasdaq Notice further indicated that, unless the Company requests a hearing on an appeal of this determination by the Staff before a Nasdaq Hearings Panel by no later than May 30, 2023, the Comp

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Source: SEC EDGAR

accession 0001104659-23-065442

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