GRI Bio, Inc. (GRI): Nasdaq/NYSE listing notice — Vallon receives second Nasdaq delisting notice for equity shortfall; merger with GRI Bio is key to stay

GRI Bio, Inc.

Stockholders' equity of $2.342M as of Dec 31, 2022, below Nasdaq's $2.5M minimum for continued listing.
Nasdaq panel granted stay of delisting until April 28, 2023, contingent on completing merger with GRI Bio and meeting initial listing requirements.
Company previously failed $1.00 minimum bid price rule; hearing held Feb 16, 2023.
Company expects to close merger by April 28, 2023, but warns no assurance of completion or compliance.
If merger fails, common stock likely to be delisted from Nasdaq Capital Market.

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 stockholders equity (rules 5550(b)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: stockholders equity
Rules: 5550(b)

Exact text from the filing

February 28, 2023, Vallon Pharmaceuticals, Inc. (the “Company”) received notice (the “Second Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that, because the Company’s Annual Report on Form 10-K for the period ended December 31, 2022 reported stockholders’ equity of $2,342,000, and as of February 28, 2023 the Company does not meet the alternatives of market value of listed securities or net income from continuing operations, the Company no longer complies with Nasdaq Listing Rule 5550(b). The Second Notice noted that companies listed on The

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.7

GRI Bio, Inc. received a nasdaq deficiency notice notice regarding minimum bid price.

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price

Exact text from the filing

December 28, 2022, the Company received a letter from Nasdaq informing it that its shares had failed to comply with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market and, as a result, its shares are subject to delisting. The Company filed an appeal and hearing request with Nasdaq, which had stayed the delisting of its common stock from The Nasdaq Capital Market pending a Panel decision. The hearing before the Panel was held on February 16, 2023. The Panel reached a decision on February 21, 2023, and informed the Company that it was granting the Company’s r

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GRI Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001824293-23-000022

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