IRIDEX CORP (IRIX): Nasdaq/NYSE listing notice — IRIDEX receives Nasdaq delisting notice; equity only $852K vs $2.5M minimum; seeks shareholder vote

IRIDEX CORP

Stockholders' equity was ~$852,000 as of March 29, 2025, below Nasdaq's $2.5M minimum.
Company to seek shareholder approval at June 11, 2025 annual meeting to reclassify Series B Preferred Stock as permanent equity.
If approved, $6M Series B sale would reclassify, potentially bringing equity above minimum.
Must submit compliance plan to Nasdaq by June 30, 2025; may receive up to 180-day cure period if plan accepted.
No immediate impact on Nasdaq listing or business operations, but delisting risk remains if plan fails.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

IRIDEX CORP received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”). As described in the Notice, the Company’s last reported stockholders’ equity as of March 29, 2025, was approximately $852,000 and, as of May 14, 2025, the Company does not meet the alternative listing requirements of its market value of listed securities or its net income from continuing operations in

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2 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

IRIDEX CORP filing history →

Source: SEC EDGAR

accession 0001174947-25-000809

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