Cingulate Inc. (CING): Nasdaq/NYSE listing notice — Cingulate receives Nasdaq notice for failure to meet minimum equity requirement

Cingulate Inc.

Stockholders' equity of $81,614 as of March 31, 2023 was below Nasdaq's $2.5M minimum for continued listing.
Company has 45 days (until June 30, 2023) to submit a plan to regain compliance with Nasdaq Rule 5550(b)(1).
If plan accepted, Nasdaq may grant up to 180 days (until Nov 12, 2023) to regain compliance; no assurance of acceptance.
No immediate impact on listing; common stock (CING) and warrants (CINGW) continue trading on Nasdaq.

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 0.98

Cingulate 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

May 16, 2023, Cingulate Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market, under Listing Rule 5550(b)(1), because the Company’s stockholders’ equity of $81,614 as reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2023 was below the required minimum of $2.5 million, and because, as of May 15, 2023, the Company did not meet

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Cingulate Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-018328

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