Motus GI Holdings, Inc.: Nasdaq/NYSE listing notice — Motus GI receives Nasdaq delisting notice; plans appeal to hearings panel

Motus GI Holdings, Inc.

Nasdaq determined company did not meet terms of extension to July 3, 2023 for stockholders' equity deficiency.
Company had previously failed to maintain minimum $2.5M stockholders' equity under Listing Rule 5550(b)(1).
Company intends to request a hearing before Nasdaq Hearings Panel; stay of delisting until hearing concludes.
Delisting could impair ability to raise capital and trade stock; no assurance of compliance plan acceptance.

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 0.9

Motus GI Holdings, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)(1)).

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

Exact text from the filing

July 6, 2023, the Company received a letter from the Staff advising the Company that the Staff had determined that the Company did not meet the terms of the extension by July 3, 2023. The Company intends to appeal the Staff’s delisting determination by submitting a hearing request to the Nasdaq Hearings Panel (the “Panel”), which request will automatically stay the delisting of the Company’s securities by the Staff on July 17, 2023 at least until the hearing process concludes. At the Panel hearing, the Company intends to present a detailed plan to regain compliance with Listing Rule 5550(b)(1)

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Source: SEC EDGAR

accession 0001493152-23-023983

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