ELUTIA INC. (ELUT): Nasdaq/NYSE listing notice — Elutia receives Nasdaq delisting notice for failure to meet MVLS standard; plans to appeal

ELUTIA INC.

Received delisting determination from Nasdaq on Nov 1, 2023 for failing to maintain MVLS >= $35M for 10 consecutive days by Oct 31 compliance date.
Trading suspension scheduled for Nov 10, 2023 unless appeal is requested.
Company intends to request hearing with Nasdaq Hearings Panel to appeal; hearing stay pending outcome.
If delisted, trading could become more difficult, stock price may decline materially, and capital raising ability may be impaired.
Stock continues to trade under ELUT on Nasdaq Capital Market pending hearing.

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 0.9

ELUTIA INC. received a nasdaq delisting notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

November 1, 2023, the Company received a delisting determination letter (the “Letter”) from the Staff advising the Company that the Staff had determined that the Company did not regain compliance with the Market Value Standard by the Compliance Date because the Company’s MVLS did not close at or above $35 million for a minimum of 10 consecutive business days prior to the Compliance Date. As a result, unless the Company requests an appeal of the Staff’s determination, trading of the Company’s common stock on the Nasdaq Capital Market will be suspended at the opening of business on November 10

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Source: SEC EDGAR

accession 0001104659-23-115224

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