Sonnet BioTherapeutics Holdings, Inc.: Nasdaq/NYSE listing notice — SONN reports stockholders' equity of $662K, below Nasdaq $2.5M minimum; faces delisting risk

Sonnet BioTherapeutics Holdings, Inc.

Stockholders' equity of $662,262 as of March 31, 2025, well below the $2.5M minimum for continued Nasdaq listing.
Must submit a compliance plan by July 14, 2025; Nasdaq may grant an up to 180-day extension if plan accepted.
Also fails alternative compliance measures: market value of listed securities <$35M and no net income >$500K.
No immediate effect on trading; common stock (SONN) continues on Nasdaq Capital Market.
Delisting would materially hurt capital raising, liquidity, and stock value.

Key facts

Extracted from this filing and checked against the source text.

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

Sonnet BioTherapeutics Holdings, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

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

Exact text from the filing

May 30, 2025, Sonnet BioTherapeutics Holdings, Inc. (the “Company”) received notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement”). In the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the Company reported stockholders’ e

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Source: SEC EDGAR

accession 0001641172-25-013264

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