Carisma Therapeutics Inc. (CARM): Nasdaq/NYSE listing notice — Sesen Bio receives Nasdaq delisting notice; warns of dissolution if merger fails

Carisma Therapeutics Inc.

Nasdaq notified Sesen on Jan 25, 2023 of non-compliance with $1.00 bid price; delisting unless hearing requested.
Company plans to request Nasdaq Hearings Panel hearing to stay delisting and remain listed pending decision.
Without pending merger with Carisma, likely path is delisting, SEC deregistration, and court-managed dissolution and liquidation.
In dissolution, only 60%-90% of ~$140M cash (~$0.40-$0.60/share) available for initial distribution, taking 6+ months.
Board unanimously recommends merger vote at Special Meeting on March 2, 2023; seeking reverse stock split approval.

item 3.01 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 0.9

Carisma Therapeutics Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

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

Exact text from the filing

January 25, 2023 notification to the Company by the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the Company’s non-compliance with the $1.00 bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Rule”), the Company’s common stock, par value $0.001 (the “Common Stock”), will be delisted from Nasdaq unless the Company requests a hearing before a Nasdaq Hearings Panel (the “Panel”). A copy of the press release is attached as Exhibit 99.1 hereto and incorporated he

View on SEC.gov

Browse all listing & compliance notices →

Carisma Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001485003-23-000010

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.