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Bruush Oral Care | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Mar 2 06:20
Summary by Futu AI
Bruush Oral Care Inc. has been notified by the Nasdaq Listing Qualifications Department that it no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company's common shares have not maintained the required $1.00 per share minimum bid price for 30 consecutive trading days, as stipulated by Nasdaq Listing Rule 5550(a)(2). Bruush Oral Care was given until May 13, 2024, to regain compliance. However, the situation worsened when the company's shares closed at $0.10 or less for ten consecutive trading days, violating the Nasdaq's Low Priced Stocks Rule. Consequently, Nasdaq has decided to delist Bruush Oral Care's securities, with trading suspension set to commence on March 7, 2024, unless the company appeals by March 5, 2024. Bruush Oral Care has requested a hearing before the Nasdaq Hearings Panel, which is scheduled for April 25, 2024, where the company will present a plan to regain compliance. The outcome of the hearing and the company's ability to meet Nasdaq's continued listing requirements remain uncertain.
Bruush Oral Care Inc. has been notified by the Nasdaq Listing Qualifications Department that it no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company's common shares have not maintained the required $1.00 per share minimum bid price for 30 consecutive trading days, as stipulated by Nasdaq Listing Rule 5550(a)(2). Bruush Oral Care was given until May 13, 2024, to regain compliance. However, the situation worsened when the company's shares closed at $0.10 or less for ten consecutive trading days, violating the Nasdaq's Low Priced Stocks Rule. Consequently, Nasdaq has decided to delist Bruush Oral Care's securities, with trading suspension set to commence on March 7, 2024, unless the company appeals by March 5, 2024. Bruush Oral Care has requested a hearing before the Nasdaq Hearings Panel, which is scheduled for April 25, 2024, where the company will present a plan to regain compliance. The outcome of the hearing and the company's ability to meet Nasdaq's continued listing requirements remain uncertain.
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