Vivani Medical, Inc. (VANI): Nasdaq/NYSE listing notice — Vivani Medical receives Nasdaq deficiency notice for bid price below $1.00
Vivani Medical, Inc.
Nasdaq notified Vivani on Dec 26, 2023 that common stock closed below $1.00 for 30 consecutive trading days through Dec 21, 2023.
Company has 180 days (until June 24, 2024) to regain compliance by maintaining $1.00 closing bid price for at least 10 consecutive trading days.
If not compliant by June 24, 2024, Vivani may be eligible for an additional 180-day period if it meets other listing standards and intends to cure (e.g., reverse stock split).
Failure to regain compliance could lead to delisting; Vivani may appeal any delisting determination to a Nasdaq Hearings Panel.
Vivani intends to monitor bid price and may consider actions including a reverse stock split, subject to board and stockholder approval.
Vivani Medical, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
Exchange
nasdaq
Notice
deficiency notice
Deficiency
minimum bid price
Rules
5550(a)(2)
Exact text from the filing
December 26, 2023, Vivani Medical, Inc. (the “Company”) received written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for 30 consecutive trading days from November 9, 2023 through December 21, 2023, the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), had closed below the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The N
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