Cingulate Inc. (CING): Nasdaq/NYSE listing notice — Cingulate receives Nasdaq bid price deficiency notice; equity compliance extension to Nov 13, 2023

Cingulate Inc.

On July 28, 2023, Nasdaq granted extension until Nov 13, 2023 to regain minimum stockholders' equity of $2.5M, conditioned on capital raise.
Same day, Nasdaq notified Cingulate of non-compliance with $1.00 minimum bid price; 180-day cure period until Jan 24, 2024.
If equity not compliant by Nov 13 or bid price not compliant by Jan 24, securities subject to delisting from Nasdaq.
Company considering options including reverse stock split to regain bid price compliance.
Delisting could harm capital access and liquidity; no assurance of regaining compliance.

item 3.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Cingulate Inc. received a nasdaq extension granted notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: extension granted
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

July 28, 2023, the Company received a written notice (the “Notice”) from the Staff indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). The Notice does not result in the immediate delisting of the Company’s common stock and warrants from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price of the Company’s common stoc

View on SEC.gov

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Cingulate Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

July 28, 2023, the Company received a written notice (the “Notice”) from the Staff indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). The Notice does not result in the immediate delisting of the Company’s common stock and warrants from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price of the Company’s common stoc

View on SEC.gov

20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Cingulate Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-026158

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