Nuwellis receives Nasdaq delisting notice for bid price non-compliance; shareholders approve reverse stock split

Nuwellis, Inc.

Nasdaq notified Nuwellis on June 5, 2024 of delisting due to continued non-compliance with $1.00 minimum bid price requirement.
Company will request a hearing before the Nasdaq Hearings Panel to stay delisting; no assurance of continued listing.
Stockholders approved a reverse stock split at a ratio of 1-for-5 to 1-for-70 to help regain compliance.
Reverse split approval received 1,676,112 votes for, 1,095,593 against, 4,694 abstain.
Company also faces non-compliance with $2.5M minimum stockholders' equity requirement reported previously.

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