Nasdaq notifies Sunshine Biopharma of delisting due to warrant dilution

Sunshine Biopharma Inc.

Nasdaq staff determined to delist SBFM under Rule 5101 citing public interest concerns over Series A warrant cashless exercise provision.
Provision allowed warrant holders to receive 2x shares without adjusting for 1-for-100 reverse split on April 17, 2024, causing massive shareholder dilution.
Company must present views to Nasdaq Hearings Panel by June 14, 2024; no immediate effect on listing pending panel decision.

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