ZyVersa Therapeutics, Inc. (ZVSA): Nasdaq/NYSE listing notice — ZyVersa receives Nasdaq reprimand for July 2023 offering; proposes reverse stock split to cure bid price deficiency

ZyVersa Therapeutics, Inc.

Nasdaq staff determined July 2023 offering required stockholder approval; issued Letter of Reprimand, no further action.
Company must cure bid price deficiency by May 3, 2024 to avoid delisting from Nasdaq.
Special stockholders meeting on April 17, 2024 to vote on reverse stock split of 1:2 to 1:50.
Company believes recent NLRP3 inhibitor data and upcoming phase 2a trial may raise stock price above $1.00, avoiding reverse split.
Board retains right to abandon reverse stock split if bid price deficiency cured by other means.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ZyVersa Therapeutics, Inc. received a nasdaq deficiency notice notice regarding other (rules 5635(d), IM-5635-3, 5810(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5635(d), IM-5635-3, 5810(c)(4)

Exact text from the filing

March 6, 2024, ZyVersa Therapeutics, Inc. (the “ Company ”) received a Letter of Reprimand (the “ Letter ”) from the staff (the “ Staff ”) of the Nasdaq Stock Market (the “ Nasdaq ”) in accordance with Nasdaq’s Listing Rule 5810(c)(4). The Staff has determined that the Company’s July 2023 best-efforts public offering of its common stock (“ Common Stock ”) and warrants to purchase shares of the Common Stock (the “ July 2023 Offering ”) did not qualify as a “Public Offering” as defined in Nasdaq’s Listing Rule IM-5635-3. Accordingly, because the July 2023 Offering was carried out at a price less

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ZyVersa Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009437

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