Lunai Bioworks gets additional Nasdaq delisting notice for MVLS; completes $20M merger

Lunai Bioworks Inc.

• Received Nasdaq staff determination on April 28, 2026 for non-compliance with $35M market value of listed securities (MVLS) rule.
• Completed merger on May 1, 2026, issuing $20M Series B Preferred Stock to support compliance with equity rule.
• Stockholders on May 8, 2026 approved reverse stock split authorization (1:3 to 1:30) to address bid price rule.
• Company requests extension from Nasdaq Hearings Panel for bid price compliance; prior exception expires June 1, 2026.
• Panel previously granted continued listing exception through May 1 (equity) and June 1 (bid price) subject to conditions.

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