T2 Biosystems, Inc.: Nasdaq/NYSE listing notice — T2 Biosystems receives Nasdaq deficiency notice for bid price below $1.00

T2 Biosystems, Inc.

Nasdaq letter dated March 30, 2023 cites bid price below $1.00 for 30 consecutive business days.
Company has 180 calendar days, until September 26, 2023, to regain compliance.
Compliance requires closing at $1.00 or more for at least ten consecutive business days.
Company may seek an additional 180-day cure period if it meets other initial listing standards.
Management evaluating options including a potential reverse stock split to cure the deficiency.

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

T2 Biosystems, 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

March 30, 2023, the Company received a letter (the “Nasdaq Staff Deficiency Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until September 26, 2023, to regain compliance. The letter states that the Nasdaq staff w

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Source: SEC EDGAR

accession 0001193125-23-087983

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