secwatch.observer — SEC 8-K summary
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Issuer:     ProSomnus, Inc. (—)
CIK:        0001934064
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001104659-24-024996
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Prosomnus receives Nasdaq delisting notice for failing MVLS requirement; hearing requested
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1934064/000110465924024996/0001104659-24-024996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1934064/000110465924024996/tm246481d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-024996

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