---
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"
generated_at: "2026-06-17T16:12:29.411725+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Sonnet BioTherapeutics receives Nasdaq minimum bid price deficiency notice

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-008889
- form_type: 8-K
- cik: 0001106838
- company_name: Sonnet BioTherapeutics Holdings, Inc.
- filed_at: 2023-03-24T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-008889
- JSON: https://secwatch.observer/filing/0001493152-23-008889.json
- Plain text: https://secwatch.observer/filing/0001493152-23-008889.txt

## Key facts
- Listing & Compliance Notices
  Sonnet BioTherapeutics Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1106838/000149315223008889/0001493152-23-008889-index.htm

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