Cyclo Therapeutics, Inc.: Nasdaq/NYSE listing notice — Cyclo Therapeutics receives Nasdaq delisting notice for low equity; expects cure via AMTI merger

Cyclo Therapeutics, Inc.

Stockholders' equity of $1,052,670 as of Sep 30, 2023, below Nasdaq's $2.5M minimum.
Nasdaq scheduled trading suspension for Dec 6, 2023 unless appeal; company will request hearing by Dec 4.
Company expects to meet equity requirement by year-end using cash from pending merger with Applied Molecular Transport (AMTI).
Merger agreement signed Sep 21, 2023; S-4 declared effective Nov 21, proxy mailed Nov 27.

item 3.01 item 8.01 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

Cyclo Therapeutics, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)).

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

Exact text from the filing

November 27, 2023, Cyclo Therapeutics, Inc. (the “ Company ” ) received written notice (“ Notice ”) from the Nasdaq Stock Market (“ Nasdaq ”) stating that the Company does not comply with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b) for continued listing on The Nasdaq Capital Market because the Company’s stockholders’ equity, as reported in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, is below $2.5 million (i.e., $1,052,670). In addition, the Company does not meet the alternative compliance standards relating t

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Source: SEC EDGAR

accession 0001437749-23-033256

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