Accelerate Diagnostics, Inc: Nasdaq/NYSE listing notice — AXDX receives Nasdaq delisting notice; will implement 1-for-10 reverse stock split to regain compliance

Accelerate Diagnostics, Inc

Received Nasdaq delisting determination on July 6, 2023 for failure to meet $1.00 minimum bid price; appeal filed to stay suspension.
Board approved 1-for-10 reverse stock split effective July 11, 2023 at 5:00 PM ET; trading on split-adjusted basis July 12, 2023.
Outstanding shares will reduce from ~144M to ~14M; fractional shares paid in cash.
No change to authorized shares or par value; proportionate adjustments to equity awards, warrants, and convertible notes.
If appeal fails or compliance not regained, common stock subject to delisting from Nasdaq Capital Market.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Accelerate Diagnostics, 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

t (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock had been below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market (the “Capital Market”) pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). At that time, the Company was granted a period of 180 calendar days, or until July 5, 2023, to regain compliance with the Minimum Bid Price Requirement. On July 6, 2023, the Company received a determination letter from the Staff notifying the Company

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Source: SEC EDGAR

accession 0001104659-23-079367

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