ATHERSYS, INC / NEW: Nasdaq/NYSE listing notice — Athersys gets Nasdaq bid-price deficiency notice; 180 days to cure

ATHERSYS, INC / NEW

Nasdaq notified Athersys on July 28, 2023 that its common stock closed below $1.00 for 30 consecutive business days through July 27, 2023.
Company has until January 24, 2024 to regain compliance by closing at $1.00+ for 10 consecutive trading days.
If not compliant by Jan 24, Athersys may be eligible for an additional 180-day cure period if it meets other Nasdaq listing standards.
Athersys is evaluating options including a potential reverse stock split to address the deficiency.
Failure to regain compliance could result in delisting from the Nasdaq Capital Market.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ATHERSYS, INC / NEW received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

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

Exact text from the filing

July 28, 2023, Athersys, Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”), because the closing bid price of the Company’s common stock (the “Common Stock”) was below $1.00 per share for 30 consecutive business days for the period of June 14, 2023 through July 27, 2023. The Notice does not impact the listi

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Source: SEC EDGAR

accession 0001368148-23-000075

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