Ernexa Therapeutics Inc. (ERNA): Nasdaq/NYSE listing notice — Eterna Therapeutics to transfer Nasdaq listing after equity shortfall; Dr. Angel appointed CEO

Ernexa Therapeutics Inc.

Stockholders' equity of $8.8M missed Nasdaq Global Market's $10M minimum; Board authorized transfer to Capital Market on Dec 29, 2022, applied Jan 2, 2023.
Dr. Matthew Angel appointed President & CEO effective Jan 1, 2023; base salary $350k, signing bonus $210,959, performance bonus of 2% of gross proceeds from licensing etc.
Option grant to increase Dr. Angel's total options to 5% of outstanding shares; 50% vested on Start Date, remainder over 36 months.
Related party: Factor Bioscience (64% owned by Angel) receives $5M initial fee under MSA; license amended, option with Exacis terminated.

item 3.01 item 5.02 item 9.01

Executive movements

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Appointed

Dr. Matthew Angel

President and Chief Executive Officer

ERNA · Ernexa Therapeutics Inc.

Effective: 2023-01-01
Filed: January 4, 2023, 6:59 PM ET

On December 30, 2022, the Board appointed Dr. Matthew Angel as the Company’s President and Chief Executive Officer (principal executive officer) effective January 1, 2023 (the “ Start Date ”).

Key facts

Extracted from this filing and checked against the source text.

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

Ernexa Therapeutics Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5450(b)(1)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5450(b)(1)(A)

Exact text from the filing

November 22, 2022 stating that the Company’s stockholders’ equity of approximately $8.8 million, as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, fails to comply with the minimum $10.0 million stockholders’ equity requirement for continued listing on the Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(1)(A). The Notice provided that the Company may consider applying to transfer the listing of the Company’s common stock, par value $0.005 per share (the “ common stock ”) to The Nasdaq Capital Market, subject to the Compan

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Executive change SEC 8-K Item 5.02 confidence 1.0

Dr. Matthew Angel was appointed as President and Chief Executive Officer at Ernexa Therapeutics Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On December 30, 2022, the Board appointed Dr. Matthew Angel as the Company’s President and Chief Executive Officer (principal executive officer) effective January 1, 2023 (the “ Start Date ”).

View on SEC.gov

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Ernexa Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-000340

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