OTONOMY, INC.: Nasdaq/NYSE listing notice — Otonomy receives Nasdaq delisting notice; shares suspended Dec 23 after plan of dissolution

OTONOMY, INC.

Nasdaq Stock Market suspended trading of OTIC effective at open on December 23, 2022, due to bid price below $0.10 for 10 consecutive days.
Company previously announced a Plan of Dissolution on December 19, 2022, and withdrew from the Nasdaq hearing process on December 21.
Otonomy expects its common stock to be quoted on the OTC Pink Market following the suspension.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

OTONOMY, INC. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii)

Exact text from the filing

December 22, 2022. Following the Company’s announcement of its Plan of Dissolution on December 19, 2022, the Company had further discussions with the Staff and determined that its plan would not support regaining compliance to maintain the listing of its securities on Nasdaq. On December 21, 2022, the Company notified Nasdaq of its intention to withdraw from the Nasdaq hearing process. On December 22, 2022, the Company received a letter from the Staff advising the Company that the Company’s shares would be suspended from trading on Nasdaq, effective at the open of business on December 23, 2022

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Source: SEC EDGAR

accession 0001193125-22-310711

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