ATHERSYS, INC / NEW: Nasdaq/NYSE listing notice — Athersys receives Nasdaq delisting notice for failure to meet $35M market value standard

ATHERSYS, INC / NEW

Nasdaq notified Athersys on April 13, 2023, that it failed to regain compliance with the $35M minimum market value listing rule.
Company requested a hearing before Nasdaq Hearings Panel on April 14, 2023; delisting is stayed pending appeal.
If hearing not requested by April 20, trading would have been suspended on April 24; common stock continues on Nasdaq during appeal.
No assurance that appeal will succeed or that Athersys will regain compliance with Nasdaq continued listing requirements.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

ATHERSYS, INC / NEW received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(b)(2)

Exact text from the filing

April 13, 2023, the Company received written notification (the “Notification”) from Nasdaq stating that the Company had not regained compliance with the Market Value Standard. Pursuant to the Notification, the Common Stock is subject to delisting from Nasdaq pending the Company’s opportunity to request a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company intends to diligently pursue an appeal of the Notification before the Panel and regain compliance with the Rule. Under Nasdaq rules, the delisting of the Common Stock will be stayed during the pendency of the appeal and during

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Source: SEC EDGAR

accession 0001368148-23-000038

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