VACCINEX, INC. (VCNX): Nasdaq/NYSE listing notice — Vaccinex faces Nasdaq delisting over bid price; appeals, reports equity compliance

VACCINEX, INC.

Received Nasdaq delisting determination on Oct 10, 2023 for failing minimum bid price compliance (bid below $1 for 30 days).
Company intends to appeal; appeal stays suspension pending Hearings Panel decision, so stock remains listed for now.
Believes regained compliance with Nasdaq equity standard (min $2.5M equity) after recent capital raises totaling ~$10.96M gross proceeds.
Recent raises: public offering of 9.6M shares for ~$9.6M (Oct 3), plus two private placements ($582k and $650k) and ATM sales (~$123k).
Caution that future compliance with bid price or equity standards is uncertain; no assurance of continued listing.

item 3.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

VACCINEX, 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

October 10, 2023, the Company received a letter from the Nasdaq Listing Staff stating that the Company has not regained compliance with the Minimum Bid Price Standard and that, as a result, unless the Company timely requests an appeal of this determination to a Nasdaq Hearings Panel, Nasdaq would move to suspend trading of the Company’s common stock and to have the Company’s securities delisted from the Nasdaq Capital Market. Accordingly, the Company intends to timely appeal the determination, which will automatically stay any suspension or delisting action pending the Hearings Panel’s decisio

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VACCINEX, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-256153

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