ELUTIA INC. (ELUT): Nasdaq/NYSE listing notice — Elutia gets Nasdaq delisting notice over board independence issue; hearing Feb 15, 2024

ELUTIA INC.

On Dec 6, 2023, Nasdaq notified Elutia it is not compliant with Board Independence Rule (majority independent). Currently 3/6 directors independent.
Non-compliance stems from losing 'controlled company' status Dec 2022; transition period expired Dec 5, 2023.
Elutia expects to cure by first week Jan 2024 via director changes (resignation or new appointments).
Delisting matter will be considered alongside existing Market Value Standard non-compliance at Feb 15, 2024 hearing.
Trading of ELUT stock on Nasdaq continues without immediate effect.

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 0.95

ELUTIA INC. received a nasdaq deficiency notice notice regarding board independence (rules 5605(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence
Rules: 5605(b)(1)

Exact text from the filing

f the Exchange Act. ̈ Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 5, 2023, Elutia Inc. (the “Company” or “Elutia”) notified The Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Listing Rule 5605(b)(1) (the “Board Independence Rule”), which requires that a majority of the members of the Board of Directors be independent within the meaning of Listing Rule 5605(a)(2). On December 5, 2022, due to a securities offering, the Company lost its status as a “controlled company” exempt from the r

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ELUTIA INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-124676

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