Avinger Inc: Nasdaq/NYSE listing notice — Avinger receives Nasdaq delisting notice for failing stockholders' equity requirement

Avinger Inc

Nasdaq notified Avinger on May 18, 2023 of non-compliance with $2.5M stockholders' equity continued listing requirement.
Company has 45 days, until July 3, 2023, to submit a plan to regain compliance with the equity requirement.
If plan accepted, Nasdaq may grant extension up to November 14, 2023 to regain compliance; rejection could be appealed.
Separately, Avinger also faces bid price deficiency from April 25, 2023, with compliance period ending October 23, 2023.
Failure to meet either requirement could result in delisting from Nasdaq Capital Market.

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

Avinger Inc received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5550(b)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5550(b)

Exact text from the filing

May 18, 2023, Avinger, Inc. (the “Company”) received notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer satisfies the $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, or the alternatives to that requirement – a $35 million market value of listed securities or $500,000 in net income in the most recent fiscal year or two or the last three fiscal years – as required by Nasdaq Listing Rule 5550(b) (the “Equity Requirement”). As with the Bid Price Deficiency Letter (as defined below)

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Source: SEC EDGAR

accession 0001437749-23-015478

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