SEELOS THERAPEUTICS, INC.: Nasdaq/NYSE listing notice — Seelos receives Nasdaq non-compliance notice for bid price below $1.00

SEELOS THERAPEUTICS, INC.

On Nov 21, 2022, Nasdaq notified Seelos that its common stock bid price closed below $1.00 for 30 consecutive business days.
Company has 180 calendar days, until May 22, 2023, to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not compliant by May 22, 2023, Seelos may be eligible for an additional 180-day period if it meets other listing standards.
Failure to regain compliance could result in delisting from Nasdaq Capital Market; company may appeal but no assurance.
Seelos intends to monitor bid price and consider options including reverse stock split to cure deficiency.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

SEELOS THERAPEUTICS, INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

November 21, 2022, Seelos Therapeutics, Inc. (the “Company”) received written notice (the “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 May 22, 2023, to regain compliance. The Notice s

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Source: SEC EDGAR

accession 0001136261-22-000351

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