secwatch.observer — SEC 8-K summary
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Issuer:     Eargo, Inc. (—)
CIK:        0001719395
Form:       8-K
Filed at:   2022-11-18T23:59:59+00:00
Accession:  0001140361-22-042311
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Eargo receives Nasdaq non-compliance notices for bid price and stockholders' equity
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- Nasdaq notified Eargo on Nov 17, 2022 of bid price below $1.00 for 30 consecutive days, violating Listing Rule 5450(a)(1).
- Company has 180 days until May 16, 2023 to regain compliance; must close at $1.00+ for 10 consecutive business days.
- Also cited on Nov 15, 2022 for stockholders' equity of ($36.3M), below $10M minimum, violating Nasdaq Rule 5450(b)(1)(A).
- Eargo intends to effect a reverse stock split (authorized up to 1-for-50) to address bid price deficiency by the compliance date.
- Company plans to submit a compliance plan to Nasdaq by December 30, 2022 regarding equity deficiency.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1719395/000114036122042311/0001140361-22-042311-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1719395/000114036122042311/brhc10044417_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-042311

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