Allarity Therapeutics, Inc. (ALLR): Nasdaq/NYSE listing notice — Allarity Therapeutics faces Nasdaq delisting after bid price below $1 for 30 days; cumulative reverse split ratio >250:1

Allarity Therapeutics, Inc.

Received Nasdaq notice Oct 27, 2023: bid price below $1 for 30 consecutive business days.
Effected 1:35 reverse stock split on Mar 24, 2023 and 1:40 on Jun 28, 2023; cumulative ratio >250:1.
Not eligible for 180-day compliance period due to prior reverse splits; delisting unless appeal is requested.
Company intends to appeal; stock continues trading during appeal; delisting effective Nov 7, 2023 if no appeal.

Key facts

Extracted from this filing and checked against the source text.

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

Allarity Therapeutics, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)(iv)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)(iv)

Exact text from the filing

October 27, 2023, we received notification from the Nasdaq Listing Qualifications staff that it has determined that the bid price of our Common Stock has closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, does not comply with Listing Rule 5550(a)(2) (the “Rule”). Further, the staff also noted that we effected an 1:35 reverse stock split on March 24, 2023, and an 1:40 reverse stock split on June 28, 2023. Because we effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one, we wil

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Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-081575

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