ObsEva SA: Nasdaq/NYSE listing notice — ObsEva receives Nasdaq delisting notice effective March 23, 2023; will not appeal

ObsEva SA

Nasdaq notified ObsEVA on March 14, 2023, that it failed to regain compliance with the $1.00 bid price rule (Listing Rule 5450(a)(1)).
Original compliance deadline was March 13, 2023; company had been non-compliant since September 12, 2022.
Trading suspension on Nasdaq begins at open on March 23, 2023; a Form 25-NSE will be filed to remove the listing.
Company will file Form 15 with SEC to deregister and suspend reporting obligations once it has fewer than 300 record holders.
ObsEva intends to maintain its SIX Swiss Exchange listing under ticker OBSN and expects lower G&A costs from delisting and deregistration.

item 3.01 item 7.01 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

ObsEva SA received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

March 14, 2023, ObsEva SA (the “Company”) received written notice (the “Delisting Notice”) from the Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Company has not regained compliance with Listing Rule 5450(a)(1) (the “Bid Price Rule”) and is not eligible for a second 180-day period to cure the deficiency in accordance with Listing Rule 5810(c)(3)(A). Accordingly, the Staff has determined that the Company’s securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of busines

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Source: SEC EDGAR

accession 0001193125-23-070668

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