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.

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