---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-095325"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2023-08-25T23:59:59+00:00"
generated_at: "2026-06-11T03:31:43.485616+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First Wave BioPharma gets Nasdaq notice for bid price below $1 for 30 days

## Summary
- Nasdaq notified First Wave BioPharma on Aug. 24, 2023 of non-compliance with Listing Rule 5550(a)(2).
- Company has 180 days, until Feb. 20, 2024, to regain compliance by closing at $1.00 for 10+ consecutive days.
- No immediate effect on listing; company may qualify for a second 180-day period if it meets other listing standards.
- Failure to cure could lead to delisting, subject to appeal to a Nasdaq hearings panel.

## SEC filing metadata
- accession: 0001104659-23-095325
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2023-08-25T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465923095325/0001104659-23-095325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465923095325/tm2324766d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-095325
- JSON: https://secwatch.observer/filing/0001104659-23-095325.json
- Plain text: https://secwatch.observer/filing/0001104659-23-095325.txt

## Key facts
- Listing & Compliance Notices
  GridAI Technologies 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)
  source text: August 24, 2023, First Wave BioPharma, Inc. (the “Company”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock, par value $0.0001 per share (“Common Stock”), for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Notice”). The Notice has no immediate effect on the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923095325/0001104659-23-095325-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.