ProSomnus, Inc.: Nasdaq/NYSE listing notice — ProSomnus receives Nasdaq delisting notice for bid price deficiency; also non-compliant on MVLS and MVPHS

ProSomnus, Inc.

Received Nasdaq notice on Nov 2, 2023 for bid price below $1.00 for 30 consecutive days.
Has 180 days (to April 30, 2024) to regain compliance; evaluating options including reverse stock split.
Also previously non-compliant with MVLS ($50M) and MVPHS ($15M) requirements; compliance deadlines Feb 12 and March 18, 2024.
Failure to cure could lead to delisting; company intends to appeal if necessary.

Key facts

Extracted from this filing and checked against the source text.

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

ProSomnus, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

November 2, 2023, ProSomnus, Inc. (the “Company”) received a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) that, based on the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for the preceding 30 consecutive business days, the Company was not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid P

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Source: SEC EDGAR

accession 0001104659-23-115262

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