---
schema_version: "secwatch.filing_event.v1"
accession: "0001485003-23-000010"
form_type: "8-K"
ticker: "CARM"
cik: "0001485003"
company_name: "Carisma Therapeutics Inc."
filed_at: "2023-01-30T23:59:59+00:00"
generated_at: "2026-06-20T06:35:07.493423+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sesen Bio receives Nasdaq delisting notice; warns of dissolution if merger fails

## Summary
- 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.

## SEC filing metadata
- accession: 0001485003-23-000010
- form_type: 8-K
- ticker: CARM
- cik: 0001485003
- company_name: Carisma Therapeutics Inc.
- filed_at: 2023-01-30T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1485003/000148500323000010/0001485003-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1485003/000148500323000010/sesn-20230125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001485003-23-000010
- JSON: https://secwatch.observer/filing/0001485003-23-000010.json
- Plain text: https://secwatch.observer/filing/0001485003-23-000010.txt

## Key facts
- Listing & Compliance Notices
  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)
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1485003/000148500323000010/0001485003-23-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.