Baudax Bio, Inc.: Nasdaq/NYSE listing notice — Baudax Bio receives Nasdaq delisting notice for failing to meet stockholders' equity requirement

Baudax Bio, Inc.

Nasdaq determined Baudax Bio did not meet the $2.5M minimum stockholders' equity requirement for continued listing.
Company's extension to regain compliance expired May 15, 2023; proposed transactions not completed.
Trading of common stock (BXRX) may be suspended on May 26, 2023 unless Company appeals.
Company intends to request a hearing before the Nasdaq Hearings Panel to present a compliance plan.
If delisted, ability to raise capital and stock price could be materially impaired.

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

Baudax Bio, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)).

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

Exact text from the filing

May 17, 2023, the Company received a delist determination letter from the Staff advising the Company that the Staff had determined that the Company did not meet the terms of the extension. Specifically, the Company did not complete its proposed transactions and was unable to file a Current Report Form 8-K by the May 15, 2023 deadline previously required by the Staff, evidencing compliance with the Rule. As a result, unless the Company requests an appeal of the Staff’s determination, trading of the Company’s common stock will be suspended at the opening of business on May 26, 2023, and a Form 2

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Source: SEC EDGAR

accession 0001193125-23-149303

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