Scienture Holdings, Inc. (SCNX): Nasdaq/NYSE listing notice — TRxADE HEALTH receives Nasdaq delisting notice for failure to meet stockholders' equity requirement

Scienture Holdings, Inc.

Nasdaq notified TRxADE on Jan 30, 2023 that it did not meet terms of extension to comply with minimum $2.5M stockholders' equity rule.
Trading of MEDS common stock will be suspended at opening on Feb 8, 2023 if no appeal requested.
Company intends to request a hearing before Nasdaq Hearings Panel, which would stay delisting pending outcome.
Company previously disclosed deficiency on July 29, 2022 and was granted extension until Jan 25, 2023.
Delisting could impair ability to raise capital and cause material decline in stock price.

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 0.9

Scienture Holdings, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)).

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

Exact text from the filing

January 30, 2023, the Company received a delist determination letter from the Staff advising the Company that the Staff had determined that the Company did not meet the terms of the extension. Specifically, the Company did not complete its proposed transactions and was unable to file a Current Report Form 8-K by the January 25, 2023 deadline previously required by the Staff, evidencing compliance with the Rule. As a result, unless the Company requests an appeal of the Staff’s determination, trading of the Company’s common stock will be suspended at the opening of business on February 8, 2023

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Scienture Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-003204

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