8-K
filed June 25, 2025, 7:59 PM ET
ticker CLRO
CIK 0000840715
other material
confidence high
sentiment negative
materiality 0.85
CLEARONE INC (CLRO): Nasdaq/NYSE listing notice — ClearOne secures $3M convertible financing, to pursue asset sale; reduces workforce
CLEARONE INC
- Issued $3M convertible note to First Finance Ltd., 10% interest; converts to Class B Preferred, then common at $6.008/share.
- Board expands to 5; appoints Eric Boehnke and Youngsun Park as director nominees of First Finance Ltd.
- Will issue Class A Preferred Stock dividend to common holders by July 18; net proceeds from asset sale distributed pro rata.
- If no asset sale in 180 days, company to liquidate or sell assets; significant workforce reduction implemented.
- Nasdaq compliance regained after stock traded above $1 for 10 consecutive days ending June 24; delisting avoided.
Key facts
Extracted from this filing and checked against the source text.
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
CLEARONE INC received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
- Exchange
- nasdaq
- Notice
- noncompliance notice
- Deficiency
- minimum bid price
- Rules
- 5550(a)(2), 5810(c)(3)(A)
Exact text from the filing
June 20, 2024, the Company received a letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") informing the Company that because the closing bid price for the Company's Common Stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company was not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Company was given a period of 180 calendar days from June 20, 2024, or until December 1
View on SEC.gov
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
CLEARONE INC received a nasdaq compliance regained notice regarding minimum bid price (rules 5550(a)(2)).
- Exchange
- nasdaq
- Notice
- compliance regained
- Deficiency
- minimum bid price
- Rules
- 5550(a)(2)
Exact text from the filing
June 24, 2025, the Company received a letter from Nasdaq advising that the Company's Common Stock had traded above $1.00 per share for the ten consecutive trading days ending June 24, 2025 and had regained compliance with the Minimum Bid Price Requirement and the Company would not be delisted. As of June 24, 2025, the Company is in full compliance with all continued listing standards of the Nasdaq Capital Market.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Eric Boehnke was appointed as Director at CLEARONE INC.
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Eric Boehnke and Youngsun Park, a/k/a Sunny Park, to the Board as nominees of the Purchaser
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Youngsun Park was appointed as Director at CLEARONE INC.
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed Eric Boehnke and Youngsun Park, a/k/a Sunny Park, to the Board as nominees of the Purchaser
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
CLEARONE INC: Created Class A Preferred Stock and Class B Preferred Stock through a Certificate of Designation (effective 2025-06-20).
- Change
- charter amendment
- Effective
- 2025-06-20
Exact text from the filing
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. The disclosure of the Class A Preferred Stock and Class B Preferred Stock under Item 1.01 above is incorporate herein by reference.
View on SEC.gov
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