Surface Oncology, Inc.: Nasdaq/NYSE listing notice — Surface Oncology receives Nasdaq deficiency notice for bid price below $1.00

Surface Oncology, Inc.

Received Nasdaq deficiency letter on Jan 6, 2023, for failing minimum $1.00 bid price for 30 consecutive days.
Has 180 calendar days, until July 5, 2023, to regain compliance with Rule 5550(a)(2).
Can regain compliance if bid price closes at $1.00 or more for 10 consecutive business days before deadline.
If not compliant by July 5, may seek a second 180-day period or face potential delisting.
Company is monitoring price and considering options, including a possible reverse stock split.

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

Surface Oncology, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

January 6, 2023, Surface Oncology, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”). The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s common stock, and its common stock

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Source: SEC EDGAR

accession 0001193125-23-007282

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