GeneDx Holdings Corp. (WGS): Nasdaq/NYSE listing notice — Sema4 receives Nasdaq delisting notice and settles $42M payor dispute

GeneDx Holdings Corp.

Nasdaq notified Sema4 that its stock bid price below $1.00 for 30 consecutive days; has 180 days to regain compliance by June 26, 2023.
Sema4 entered settlement agreement with a payor for $42M over alleged overpayments for multi-gene tests; to be paid in installments over four years.
First installment of $15M due by Dec 31, 2022; payor releases claims 91 days after first payment.
Payor also agreed to new three-year in-network participation agreement with GeneDx, LLC within 90 days.
Sema4 intends to monitor bid price and consider options to resolve noncompliance; no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

GeneDx Holdings Corp. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

December 28, 2022, Sema4 Holdings Corp. (“Sema4”) received written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) notifying Sema4 that, based on the closing bid price of Sema4’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), for the last 30 consecutive trading days, Sema4 no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Global Select Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Mi

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GeneDx Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001818331-22-000080

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