Summary by Futu AI
ProSomnus, Inc., a company listed on the Nasdaq Global Market under the trading symbol OSA, has reported a failure to comply with Nasdaq's minimum Market Value of Publicly Held Shares (MVPHS) requirement of $15 million as of the compliance deadline on March 18, 2024. The company received a determination letter from Nasdaq on March 19, 2024, confirming its non-compliance. ProSomnus had previously disclosed its non-compliance and its intention to appeal the delisting determination related to the Market Value of Listed Securities (MVLS) requirement. A hearing with the Nasdaq Hearings Panel has been scheduled, where ProSomnus plans to present a compliance plan addressing both the MVPHS and MVLS requirements. The company also faces non-compliance with Nasdaq's minimum bid price requirement, with...Show More