Summary by Futu AI
Cingulate Inc., a company listed on the Nasdaq Capital Market, has successfully regained compliance with the Nasdaq's minimum stockholders' equity requirement of $2.5 million, as per the Nasdaq Listing Rule 5550(b)(1). This development was officially communicated to the company by the Nasdaq Hearings Panel on May 21, 2024. The compliance achievement follows a series of notifications and extensions provided by Nasdaq, including a previous notice of non-compliance on May 16, 2023, and an extension granted until May 13, 2024, to meet the equity requirement. Additionally, Cingulate Inc. had addressed a separate compliance issue regarding the minimum bid price rule by effecting a reverse stock split on November 30, 2023, and was notified of regained compliance on December 15, 2023. Despite these positive developments, the company will be under a...Show More