Solana Co (HSDT): Nasdaq/NYSE listing notice — Helius Medical gets Nasdaq bid-price extension to Sep 2023; issues special voting preferred stock

Solana Co

Nasdaq granted 180-day extension to September 18, 2023 to regain $1 minimum bid price compliance.
Board declared dividend of 1/1000th share of Series B Preferred per common share, record date April 3, 2023.
Series B Preferred carries 1,000,000 votes per share but votes only on reverse stock split proposals and adjournments.
Shares not voted at the reverse split meeting automatically redeemed for $0.001; remaining redeemed after approval.
If compliance not regained by Sep 18, Nasdaq may delist; Company can appeal to a Hearing Panel.

item 3.01 item 3.03 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Solana Co received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: extension granted
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

March 21, 2023, Helius Medical Technologies, Inc. (the “ Company ”) received a letter (the “ Extension Notice ”) from the Listing Qualifications Staff of The Nasdaq Stock Market, LLC (“ Nasdaq ”) notifying the Company that Nasdaq has granted the Company a 180-day extension, until September 18, 2023 (the “Extension Period”), to regain compliance with the requirement for the Company’s common stock, par value $0.001 per share (“ Common Stock ”), to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (th

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Solana Co: Filed Certificate of Designation for Series B Preferred Stock, amending the certificate of incorporation (effective 2023-03-24).

Change: charter amendment
Effective: 2023-03-24

Exact text from the filing

The Certificate of Designation was filed with the Delaware Secretary of State and became effective on March 24, 2023. The foregoing description of the Series B Preferred Stock does not purport to be complete and is qualified in its entirety by reference to the Certificate of Designation, which is filed as Exhibit 3.1(a) to this Current Report and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001558370-23-004580

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