TITAN PHARMACEUTICALS INC: Nasdaq/NYSE listing notice — Titan Pharmaceuticals raises $1M via Series B preferred, receives Nasdaq deficiency notice for equity shortfall

TITAN PHARMACEUTICALS INC

Private placement of 100,000 Series B Preferred shares at $10 each for $1M aggregate; conversion price $3.00, convertible into ~333,333 common shares.
Nasdaq notified Titan on March 26, 2025, that stockholders' equity of $2.44M falls short of the $2.5M minimum requirement; company has 45 days to submit compliance plan.
Board appointed Gabriel Loh as independent director and Audit Committee member effective March 27, 2025.
Closing of the placement expected week of April 7, 2025; investor is Blue Harbour Asset Management L.L.C-FZ.
Registration rights granted to investor; securities issued under Regulation S without registration.

item 1.01 item 3.01 item 3.02 item 5.02 item 9.01

Executive movements

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Appointed

Gabriel Loh

Independent Director

TITAN PHARMACEUTICALS INC

Effective: 2025-03-27
Filed: April 1, 2025, 7:59 PM ET

On March 27, 2025, the board of directors of the Company (the “Board”) appointed Gabriel Loh as an independent director of the Company.

Key facts

Extracted from this filing and checked against the source text.

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

TITAN PHARMACEUTICALS INC received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

March 26, 2025, the Company received a notice (the “Notice”) from the Listing Qualifications staff of Nasdaq notifying the Company that the Company’s stockholders’ equity as reported in its Annual Report on Form 10-K for the period ended December 31, 2024 (“2024 10-K”), did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1) for the Nasdaq Capital Market, which requires that a listed company’s stockholders’ equity be at least $2,500,000. In its 2024 10-K, the Company reported stockholders’ equity of $2,440,000, and, as a result, does not currently satisfy Nasdaq

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Executive change SEC 8-K Item 5.02 confidence 0.95

Gabriel Loh was appointed as Independent Director at TITAN PHARMACEUTICALS INC.

Action: appointed
Role: Independent Director

Exact text from the filing

On March 27, 2025, the board of directors of the Company (the “Board”) appointed Gabriel Loh as an independent director of the Company.

View on SEC.gov

16 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Source: SEC EDGAR

accession 0001829126-25-002284

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