---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-022532"
form_type: "8-K"
ticker: "SCNX"
cik: "0001382574"
company_name: "Scienture Holdings, Inc."
filed_at: "2023-06-26T23:59:59+00:00"
generated_at: "2026-06-13T16:56:41.271269+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TRxADE Health receives Nasdaq delisting notice for insufficient public shares

## Summary
- Nasdaq notified TRxADE on June 23, 2023, that it had ~310,057 publicly held shares, below the 500,000 minimum.
- Company must submit a compliance plan by August 7, 2023; failure may result in delisting from Nasdaq.
- Created Series B Preferred Stock, each share converting into 100 common shares upon stockholder approval.
- If merger with Superlatus, Inc. does not close by Dec 31, 2023, Company will repurchase all Series B shares at original cost.

## SEC filing metadata
- accession: 0001493152-23-022532
- form_type: 8-K
- ticker: SCNX
- cik: 0001382574
- company_name: Scienture Holdings, Inc.
- filed_at: 2023-06-26T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1382574/000149315223022532/0001493152-23-022532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1382574/000149315223022532/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-022532
- JSON: https://secwatch.observer/filing/0001493152-23-022532.json
- Plain text: https://secwatch.observer/filing/0001493152-23-022532.txt

## Key facts
- Listing & Compliance Notices
  Scienture Holdings, Inc. received a nasdaq deficiency notice notice regarding other (rules 5550(a)(4)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Rules: 5550(a)(4)
  source text: June 23, 2023, the Listing Qualifications department of The Nasdaq Stock Market LLC (the “Nasdaq”) notified the Company that the Company was not in compliance with Nasdaq’s listing rules (the “Listing Rules”) as set forth in Listing Rule 5550(a)(4) given the Company’s failure to maintain a sufficient number of publicly held shares (the “Notice”). Citing the Company’s Event Form submitted to Nasdaq on June 7, 2023, Nasdaq calculated the Company’s publicly held shares as approximately 310,057 (which amount excludes shares held by officers, directors, or beneficial owners of 10 percent or more)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1382574/000149315223022532/0001493152-23-022532-index.htm
- Governance Changes
  Scienture Holdings, Inc.: Filed Certificate of Designation for Series B Preferred Stock, setting forth terms including non-participating, no dividends, no liquidation preference, no voting rights, no redemption rights, and conversion upon stockholder approval into 100 shares of common stock each (effective 2023-06-26).
  - Change: charter amendment
  - Effective: 2023-06-26
  source text: On June 26, 2023, the Company filed a Certificate of Designation, Preferences, Rights and Limitations of the Series B Preferred Stock with the Secretary of State of the State of Delaware (the “Certificate of Designation”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1382574/000149315223022532/0001493152-23-022532-index.htm

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