secwatch.observer — SEC 8-K summary
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Issuer:     9 METERS BIOPHARMA, INC. (—)
CIK:        0001551986
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001551986-23-000024
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.01
LLM model:  deepseek-v4-flash:cloud@v2

9 Meters Biopharma receives Nasdaq deficiency notice for low equity; faces note default
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- March 31, 2023 Nasdaq letter for non-compliance with Rule 5550(b)(1) requiring $2.5M minimum stockholders' equity.
- Reported stockholders' equity of $2,400,543 in Form 10-K for period ended December 31, 2023.
- Non-compliance triggers default under $4,949,522 convertible note; holder can demand 115% of principal.
- Company negotiating waiver; no immediate acceleration expected from the institutional investor.
- Company has 45 days to submit compliance plan; if accepted, up to 180-day extension to regain compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551986/000155198623000024/0001551986-23-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551986/000155198623000024/nmtr-20230331.htm
  HTML page:      https://secwatch.observer/filing/0001551986-23-000024

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