HeartSciences Inc. (HSCS): Nasdaq/NYSE listing notice — Nasdaq staff determination to delist Heart Test Laboratories; company plans appeal and 1-for-100 reverse split

HeartSciences Inc.

Received Nasdaq staff determination to delist under Low Priced Stocks Rule (closing bid ≤$0.10 for 10 consecutive days).
Company intends to appeal by May 16, 2024; hearing will stay delisting pending Panel decision.
Board filed Certificate of Amendment for a 1-for-100 reverse stock split to regain compliance.
Reverse split also adjusts warrants; exercise price changes to $425.00 per share.
Shareholders approved split at Jan 2024 annual meeting; board selected 1-for-100 ratio on May 6, 2024.

item 3.01 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

HeartSciences Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii)

Exact text from the filing

May 9, 2024, the Company received a staff determination from Nasdaq to delist the Company’s securities from the Nasdaq Capital Market (the “Staff Determination”). The Staff Determination was issued because, as of May 8, 2024, the Company’s Common Stock had a closing bid price of $0.10 or less for at least ten consecutive trading days. Accordingly, the Company is subject to the provisions contemplated under Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). The Company may appeal the Staff Determination to a Nasdaq Hearings Panel (the “Panel”) by filing a hearing request wit

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HeartSciences Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-041736

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