{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-057058","form_type":"8-K","ticker":null,"cik":"0001017491","company_name":"SEELOS THERAPEUTICS, INC.","filed_at":"2024-05-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:16.897540+00:00","generated_at":"2026-06-02T22:48:55.012021+00:00","sec_items":["1.01","2.05","3.01","5.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Seelos receives Nasdaq delisting notice, cuts 33% of workforce, board member resigns","bullets":["Nasdaq notified Seelos of delisting for non-compliance with minimum market value of listed securities rule; appeal to stay listing pending hearing.","Workforce reduced ~33% plus reduced hours for remaining employees; annualized cost savings ~$2.4M; one-time charge ~$50k.","Director Daniel J. O'Connor resigned from board effective May 2, 2024, citing personal reasons.","Amendment to convertible note with Lind Global: no minimum cash balance until May 31, then 50% of outstanding principal; share conversion discount reduced to 85% of VWAP."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-057058","json":"https://secwatch.observer/filing/0001104659-24-057058.json","markdown":"https://secwatch.observer/filing/0001104659-24-057058.md","text":"https://secwatch.observer/filing/0001104659-24-057058.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/0001104659-24-057058-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/tm2413461d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T22:48:55.012021+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a79b85362853e88f95af9e278cd388eeba417864","claim":"SEELOS THERAPEUTICS, INC. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2)).","evidence_excerpt":"April 30, 2024, the Company received written notice (the “Bid Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until October 28, 2024, to regain compliance. The Bid Notice states that the Nasdaq","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/0001104659-24-057058-index.htm","confidence":0.98,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"noncompliance notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5550(a)(2)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"62537fcc8b","claim":"Daniel J. O'Connor resigned as Director at SEELOS THERAPEUTICS, INC..","evidence_excerpt":"On May 2, 2024, Daniel J. O’Connor notified the Board of Directors (the “Board”) of the Company of his decision to resign from the Board, effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/0001104659-24-057058-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"94414bfb3777d16eb395f8b52d9bc2285676bfa9","claim":"SEELOS THERAPEUTICS, INC. amended Amendment No. 6 to Convertible Promissory Note with Lind Global Asset Management V, LLC (effective 2024-05-01).","evidence_excerpt":"Effective May 1, 2024, Seelos Therapeutics, Inc. (the “Company”) and Lind Global Asset Management V, LLC (together with its successors and representatives, the “Holder”) entered into an Amendment No. 6 to Convertible Promissory Note (the “Amendment”), which amended that certain Convertible Promissory Note No. 1 in the initial principal amount of $22,000,000, issued by the Company to the Holder on November 23, 2021, as amended on December 10, 2021, February 8, 2023, May 19, 2023, September 30, 2023 and March 27, 2024 (as so amended, the “Note”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/0001104659-24-057058-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Lind Global Asset Management V, LLC"},{"label":"Effective","value":"2024-05-01"}],"fact_type":"material_agreement"},{"claim_id":"06e5df5819eddb0cc9a71e6a40158af09e787f64","claim":"SEELOS THERAPEUTICS, INC. announced a restructuring with charges of approximately $50,000 (approximately 33% of its current employees).","evidence_excerpt":"On April 30, 2024, the Company announced a reduction in its workforce that affected approximately 33% of its current employees (the “RIF”), along with a reduction in working hours and related compensation for all of its remaining employees. This decision relates to the Company’s recent announcement of its strategic focus on its mental health initiatives and serves to reduce ongoing operating expenses not related to such initiatives and extend the Company’s cash runway. Total annualized cost savings from the RIF are estimated at approximately $0.8 million and total annualized cost savings from the reduction in working hours are estimated at approximately $1.6 million. The RIF was substantially completed on April 30, 2024. The Company expects to recognize approximately $50,000 in total charges for related benefits for employees whose employment was terminated pursuant to the RIF.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1017491/000110465924057058/0001104659-24-057058-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $50,000"},{"label":"Headcount","value":"approximately 33% of its current employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}