{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-008889","form_type":"8-K","ticker":null,"cik":"0001106838","company_name":"Sonnet BioTherapeutics Holdings, Inc.","filed_at":"2023-03-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.882334+00:00","generated_at":"2026-06-17T16:12:29.411725+00:00","sec_items":["3.01","8.01","9.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Sonnet BioTherapeutics receives Nasdaq minimum bid price deficiency notice","bullets":["Closing bid price of SONN common stock below $1.00 for 30 consecutive business days triggers Nasdaq deficiency notice on March 23, 2023.","Company has 180 calendar days, until September 19, 2023, to regain compliance by closing at $1.00 for 10 consecutive business days.","Previously, Nasdaq notified SONN of stockholders' equity deficiency; after February 2023 public offering netting ~$13.5 million, company believes equity requirement is met.","If bid price compliance not regained, Nasdaq may allow second 180-day period if other listing standards are met, otherwise delisting proceedings may begin.","Delisting could adversely affect market price, liquidity, and ability to raise capital; penny stock rules may apply if trading below $5."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-008889","json":"https://secwatch.observer/filing/0001493152-23-008889.json","markdown":"https://secwatch.observer/filing/0001493152-23-008889.md","text":"https://secwatch.observer/filing/0001493152-23-008889.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1106838/000149315223008889/0001493152-23-008889-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1106838/000149315223008889/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T16:12:29.411725+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c03f4161345c1484f708cd708ff1a3caf1814488","claim":"Sonnet BioTherapeutics Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).","evidence_excerpt":"March 23, 2023, Sonnet BioTherapeutics Holdings, Inc. (the “Company,” “we” or “us”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market, LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock, par value $0.0001 per share (“Common Stock”), for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Capital Market (the “Minimum Bid Price Requirement”), as set forth in Nasdaq Listing Rule 5550(a","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1106838/000149315223008889/0001493152-23-008889-index.htm","confidence":1.0,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5550(a)(2), 5810(c)(3)(A)"}],"fact_type":"exchange_compliance_notice"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}