secwatch.observer — SEC 8-K summary
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Issuer:     Adverum Biotechnologies, Inc. (—)
CIK:        0001501756
Form:       8-K
Filed at:   2023-05-19T23:59:59+00:00
Accession:  0001193125-23-149306
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Adverum transfers to Nasdaq Capital Market; gets Nov 13 deadline for $1 bid compliance
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- Approved transfer from Nasdaq Global Market to Capital Market, effective May 22, 2023.
- Granted additional 180-day grace period until November 13, 2023 to regain $1.00 minimum bid price.
- Must have closing bid price at least $1.00 for ten consecutive business days during grace period.
- Plans reverse stock split to regain compliance; proxy statement filed for shareholder vote.
- Failure to comply by Nov 13 may lead to delisting and trading on OTC markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1501756/000119312523149306/0001193125-23-149306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1501756/000119312523149306/d512702d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-149306

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