Lipella receives Nasdaq deficiency notice for preferred stock issuance; faces potential delisting

LIPELLA PHARMACEUTICALS INC.

Nasdaq notified Lipella that its Series C Preferred Stock and Warrant issuances violated Listing Rules 5635(d) and 5640 (shareholder approval and voting rights).
Issuances to investment bank between Dec 2024 and Mar 2025 involved >20% of outstanding shares at a discount to Minimum Price.
Company must respond to Nasdaq Hearings Panel by May 19, 2025; plans to seek shareholder approval and pause conversions/exercises.
No immediate effect on listing of common stock (NASDAQ: LIPO); trading continues pending Panel decision.
No assurance that Lipella will regain compliance or maintain listing; risk of delisting if not successful.

item 3.01

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accession 0001753926-25-000856

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