Sunshine Biopharma Inc. (SBFM): Nasdaq/NYSE listing notice — Sunshine Biopharma receives Nasdaq delisting notice; stock at $0.10 or less for 10 days

Sunshine Biopharma Inc.

Nasdaq staff determined common stock bid price <= $0.10 for ten consecutive days as of Feb 27, 2024.
Company appealed on Feb 28, 2024; hearing scheduled for April 25, 2024 stays delisting.
Plans 40-for-1 reverse stock split after mailing definitive info statement to regain bid price compliance.
If appeal not filed by March 6, trading would be suspended March 8 and a Form 25-NSE filed.

Key facts

Extracted from this filing and checked against the source text.

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

Sunshine Biopharma Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii)

Exact text from the filing

February 28, 2024, the Company received a notification letter from Nasdaq advising that Nasdaq’s staff had determined that as of February 27, 2024, the Company’s common stock had a closing bid price of $0.10 or less for ten consecutive trading days and accordingly, the Company was subject to the provisions contemplated under Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). Accordingly, Nasdaq determined to remove the Company’s securities from listing and registration on The Nasdaq Stock Market, subject to the procedures set forth in the Nasdaq Listing Rule 5800 Series which prov

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Sunshine Biopharma Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001253

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