Summary by Futu AI
On July 2, 2024, 180 Life Sciences Corp. announced that it has received an extension from the Nasdaq Hearings Panel to meet the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market. The company must file a public disclosure by July 31, 2024, detailing the transactions undertaken to achieve compliance with Nasdaq's listing rules and demonstrate long-term compliance with the Equity Rule. Previously, 180 Life Sciences was notified of non-compliance with the Equity Rule, which requires a minimum stockholders' equity of $2.5 million. The company had been granted an extension until May 13, 2024, to regain compliance but failed to do so, leading to a delisting determination. The company appealed, and the delisting action was stayed pending the Hearings Panel's decision. Despite the extension, there is no assurance that 180 Life Sciences will meet the conditions or regain compliance with the listing requirements.