Aclarion, Inc. (ACON): Nasdaq/NYSE listing notice — Aclarion receives Nasdaq delisting notice for equity shortfall; appeals to hearings panel

Aclarion, Inc.

Nasdaq staff determined to delist common stock on Aug 31, 2023 for failure to meet $2.5M stockholders' equity requirement.
Company had 180-day extension until Aug 30, 2023 to regain compliance but did not meet terms.
Company requested hearing before Nasdaq Panel; trading stay pending written decision.
Also not compliant with $1.00 bid price requirement; grace period runs through Jan 31, 2024.
Delisting could reduce liquidity, market price, and access to financing; no assurance of favorable outcome.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

Aclarion, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)(1), 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: stockholders equity
Rules: 5550(b)(1), 5550(a)(2)

Exact text from the filing

August 31, 2023, the Nasdaq staff notified the Company that it had not met the terms of the Extension Notice. Accordingly, the Nasdaq staff had determined to delist the Company’s common stock from Nasdaq, unless the Company timely requests an appeal of the staff’s determination to a hearings panel (the “Panel”), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company has requested a hearing before the Panel to appeal the delisting notice from the staff. While the appeal process is pending, the suspension of trading of the Company’s common stock will be stayed.

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Aclarion, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-006328

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