PetVivo Holdings, Inc. (PETV): Nasdaq/NYSE listing notice — PetVivo receives Nasdaq delisting notice for low equity; CEO takes stock in lieu of salary

PetVivo Holdings, Inc.

Nasdaq notified PetVivo on Feb 17, 2023 that stockholders' equity fell below $2.5M, failing Listing Rule 5550(b)(1).
Company has until April 3, 2023 to submit a plan to regain compliance; Nasdaq may grant up to 180-day extension.
CEO John Lai will receive 60,600 RSUs (value $175,000) in lieu of cash salary for March–August 2023.
RSUs vest monthly at 10,100 shares starting March 1, 2023, based on VWAP of $2.8878.
Common stock (PETV) and warrants (PETVW) continue trading on Nasdaq Capital Market pending plan review.

item 3.01 item 5.02 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

PetVivo Holdings, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

February 17, 2023, PetVivo Holdings, Inc. (the “Company”) received written notice (“ Notice ”) from the Nasdaq Stock Market (“ Nasdaq ”) stating that the Company no longer complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) 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 December 31, 2022, has fallen below $2.5 million. The Notice also indicates that the Company does not meet the alternative compliance standards rel

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PetVivo Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-005950

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