---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-047784"
form_type: "8-K"
ticker: "WORX"
cik: "0001674227"
company_name: "SCWorx Corp."
filed_at: "2023-06-09T23:59:59+00:00"
generated_at: "2026-06-14T03:59:03.289017+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SCWorx issues 1.94M shares to settle suit; Nasdaq delisting notice for bid non-compliance

## Summary
- Issued 1,941,858 shares of common stock to satisfy $600,000 class-action settlement liability.
- Nasdaq staff determined company failed to regain compliance with $1 bid price rule; trading suspension June 15, 2023.
- Company intends to appeal delisting determination and pursue reverse stock split to regain compliance.
- If delisted, trading liquidity, accurate quotations, and capital raising ability could be materially impaired.

## SEC filing metadata
- accession: 0001213900-23-047784
- form_type: 8-K
- ticker: WORX
- cik: 0001674227
- company_name: SCWorx Corp.
- filed_at: 2023-06-09T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674227/000121390023047784/0001213900-23-047784-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674227/000121390023047784/ea180099-8k_scworx.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-047784
- JSON: https://secwatch.observer/filing/0001213900-23-047784.json
- Plain text: https://secwatch.observer/filing/0001213900-23-047784.txt

## Key facts
- Material Agreements
  SCWorx Corp. entered into Settlement Agreement with Daniel Yannes, individually and on behalf of all others similarly situated valued at $600,000 worth of common stock (effective 2021-12-20).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Daniel Yannes, individually and on behalf of all others similarly situated
  - Value: $600,000 worth of common stock
  - Effective: 2021-12-20
  source text: On December 20, 2021, the Company and Mr. Schessel entered into a binding agreement with the Plaintiff to settle the litigation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674227/000121390023047784/0001213900-23-047784-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.