CERo Therapeutics Received A Letter From Nasdaq Notifying The Company That It Had Not Regained Compliance With The MVLS Requirement Within The Cure Period; Nasdaq Has Determined To Delist The Company's Securities From Nasdaq On November 8, 2024; On October 31, 2024, The Co Requested A Hearing To Appeal The Determination Before A Panel
- SEC Filing
On October 30, 2024, the Company received a letter from Nasdaq notifying the Company that, the Company had not regained compliance with the MVLS Requirement within the Cure Period. As a result, Nasdaq has determined to delist the Company's securities from Nasdaq on November 8, 2024, subject to the Company's right to appeal described below.
On October 31, 2024, the Company requested a hearing to appeal such determination before a panel (the "Hearings Panel"). The hearing request will stay the suspension of the trading of the Company's common stock pending such hearing or any extension provided by the Hearings Panel.
At such hearing, the Company intends to submit a plan to regain compliance with the MVLS Requirement and with other deficiencies in its compliance with Nasdaq listing requirements that have been previously disclosed, including the failure to comply with the minimum bid price requirement disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on October 25, 2024.
No assurances can be provided that the Company will obtain a favorable decision from the Hearings Panel, and/or that the Company will be able to regain or maintain compliance with Nasdaq listing's rules.
