secwatch.observer — SEC 8-K summary
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Issuer:     GRI Bio, Inc. (GRI)
CIK:        0001824293
Form:       8-K
Filed at:   2024-05-22T23:59:59+00:00
Accession:  0001824293-24-000055
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

GRI Bio receives Nasdaq delisting determination; plans to appeal by May 28, 2024
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- Received Nasdaq Staff determination letter on May 21, 2024, for non-compliance with stockholders' equity rule (Rule 5550(b)) after initial 180-day cure period ended May 20, 2024.
- Despite reporting >$2.5M equity as of March 31, 2024, Nasdaq considered historical burn rate and concluded non-compliance.
- Company intends to request a hearing before a Nasdaq Hearings Panel by May 28, 2024, which will automatically stay suspension/delisting pending outcome.
- Panel may grant up to 180-day extension, but no guarantee of regaining compliance or continued listing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1824293/000182429324000055/0001824293-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1824293/000182429324000055/val-20240521.htm
  HTML page:      https://secwatch.observer/filing/0001824293-24-000055

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