secwatch.observer — SEC 8-K summary
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Issuer:     Nuwellis, Inc. (NUWE)
CIK:        0001506492
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001140361-24-029567
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 5.07
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506492/000114036124029567/0001140361-24-029567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506492/000114036124029567/ef20030740_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-029567

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