Scinai Immunotherapeutics Ltd. (SCNI): Nasdaq/NYSE listing notice — BiondVax receives Nasdaq deficiency notice for minimum equity; deficit of $1.76M vs $2.5M required

Scinai Immunotherapeutics Ltd.

Stockholders' deficit of $1.76M as of Dec 31, 2022, below Nasdaq's $2.5M minimum equity requirement.
Company has until June 15, 2023 to submit a plan to regain compliance with Nasdaq Capital Market.
If plan accepted, Nasdaq may grant up to 180-day extension; if rejected, company can appeal.
No immediate effect on trading of ADSs under symbol BVXV.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Scinai Immunotherapeutics Ltd. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

May 1, 2023, BiondVax Pharmaceuticals Ltd. (the “ Company ”) received a deficiency letter from the staff of the Listing Qualifications Department (the “ Staff ”) of the Nasdaq Stock Market (“ Nasdaq ”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the “ Stockholders’ Equity Requirement ”). The Company’s Annual Report on Form 10-K for the year ended

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Scinai Immunotherapeutics Ltd. filing history →

Source: SEC EDGAR

accession 0001213900-23-036435

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