GRI Bio, Inc. (GRI): Nasdaq/NYSE listing notice — Vallon Pharmaceuticals receives Nasdaq delisting notice after failing to regain $1 bid price compliance

GRI Bio, Inc.

Nasdaq notified Vallon on Dec 28 that its stock will be suspended Jan 6 unless hearing is requested.
Company failed to regain compliance with minimum $1.00 bid price by Dec 27 deadline because it lacks $5M in stockholders' equity.
Vallon will request a hearing before Nasdaq Hearings Panel to stay delisting; no assurance of extension.
A reverse stock split proposal is pending shareholder vote to address bid price; special meeting scheduled.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

GRI Bio, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

December 28, 2022, having not regained compliance with the Bid Price Rule, the Company received a letter from the Staff notifying the Company that, unless the Company timely requests a hearing, the Company’s common stock would be scheduled for delisting from The Nasdaq Capital Market and would be suspended at the opening of business on January 6, 2023. According to the letter from Nasdaq, the Company has not regained compliance with the Bid Price Rule and is not eligible for a second 180 day extension period because the Company does not comply with the minimum $5,000,000 Stockholders’ Equity i

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Source: SEC EDGAR

accession 0001824293-22-000084

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