ProSomnus, Inc.: Nasdaq/NYSE listing notice — ProSomnus fails to regain Nasdaq MVPHS compliance; delisting risk persists

ProSomnus, Inc.

MVPHS remained below the required $15M threshold; compliance period expired March 18, 2024.
Nasdaq notified company on March 19 it did not regain MVPHS compliance.
Company will present compliance plans for MVPHS and MVLS requirements at a Nasdaq hearing.
Also noncompliant with Nasdaq minimum bid price rule; deadline April 30, 2024.
No assurance that the Nasdaq Panel will grant continued listing or that compliance can be regained.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

ProSomnus, Inc. received a nasdaq delisting notice notice regarding late filing (rules 5450(b)(2)(C), 5810(c)(3)(C), 5450(a)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5450(b)(2)(C), 5810(c)(3)(C), 5450(a)(1)

Exact text from the filing

September 21, 2023, on September 18, 2023, ProSomnus, Inc. (the “Company”) received a notification letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that it was no longer in compliance with the minimum Market Value of Publicly Held Shares (the “MVPHS”) of $15,000,000 required for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq afforded the Company an initial complian

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Source: SEC EDGAR

accession 0001104659-24-037877

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