Heart Test Laboratories, Inc., a company listed on the Nasdaq Capital Market, has announced that its delisting action by Nasdaq has been temporarily stayed. The stay is pending a final decision by a Nasdaq Hearing Panel following the company's appeal, which will be heard on June 27, 2024. The company had received a notice of delisting due to non-compliance with Nasdaq's Minimum Bid Price Requirement and Low Priced Stocks Rule, as its common stock had closed at $0.10 or less for ten consecutive trading days. Heart Test Laboratories had previously been granted an extension until July 29, 2024, to regain compliance with the Minimum Bid Price Requirement. In response to the delisting notice, the company implemented a 1-for-100 reverse stock split on...Show More

Heart Test Laboratories, Inc., a company listed on the Nasdaq Capital Market, has announced that its delisting action by Nasdaq has been temporarily stayed. The stay is pending a final decision by a Nasdaq Hearing Panel following the company's appeal, which will be heard on June 27, 2024. The company had received a notice of delisting due to non-compliance with Nasdaq's Minimum Bid Price Requirement and Low Priced Stocks Rule, as its common stock had closed at $0.10 or less for ten consecutive trading days. Heart Test Laboratories had previously been granted an extension until July 29, 2024, to regain compliance with the Minimum Bid Price Requirement. In response to the delisting notice, the company implemented a 1-for-100 reverse stock split on May 17, 2024. The company believes it has regained compliance with Nasdaq's listing requirements, but there is no guarantee that the appeal will be successful or that it will remain listed on Nasdaq. The company's common stock and public warrants will continue to trade on Nasdaq under the symbols 'HSCS' and 'HSCSW' respectively, pending the outcome of the hearing.