ProSomnus, Inc.: Nasdaq/NYSE listing notice — Prosomnus receives Nasdaq delisting notice for failing MVLS requirement; hearing requested

ProSomnus, Inc.

On Feb 13, 2024, Nasdaq determined Prosomnus failed to regain compliance with minimum Market Value of Listed Securities ($50M) by Feb 12 deadline.
Company requested a hearing on Feb 16, which stays delisting and Form 25-NSE filing pending Panel decision.
Also non-compliant with minimum bid price (compliance expires Apr 30, 2024) and MVPHS requirement (expires Mar 18, 2024).
If delisted, trading suspended Feb 22, 2024 absent stay; delisting could impair capital raising and trigger defaults.
No assurance that Panel will grant continued listing; company will present a compliance plan at 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 0.95

ProSomnus, Inc. received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)(A), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5810(c)(3)(C)

Exact text from the filing

continued listing. Additionally, as previously disclosed, the Company received separate written notices from Nasdaq, indicating that the Company was no longer in compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”), and that the Company was no longer in compliance with the minimum Market Value of Publicly Held Shares of $15,000,000 for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”). The

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Source: SEC EDGAR

accession 0001104659-24-024996

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