Applied DNA Sciences has successfully addressed its Nasdaq compliance issue regarding the minimum stockholders' equity requirement of $2.5M. The company had previously reported negative stockholders' equity of $175,385 in Q1 2024, triggering a notification from Nasdaq on May 16, 2024.The company completed a public offering of common stock and warrants on May 29, 2024, raising approximately $10.8M in net proceeds after deducting placement agent fees and other expenses. Craig-Hallum Capital Group LLC and Laidlaw & Company (UK) Ltd. served as placement agents for the offering.With the successful completion of the offering, Applied DNA believes it has regained compliance with Nasdaq Listing Rule 5550(b)(1). However, Nasdaq will continue monitoring the company's ongoing compliance, and failure to maintain the required stockholders' equity in future periodic reports could result in delisting.

Applied DNA Sciences has successfully addressed its Nasdaq compliance issue regarding the minimum stockholders' equity requirement of $2.5M. The company had previously reported negative stockholders' equity of $175,385 in Q1 2024, triggering a notification from Nasdaq on May 16, 2024.The company completed a public offering of common stock and warrants on May 29, 2024, raising approximately $10.8M in net proceeds after deducting placement agent fees and other expenses. Craig-Hallum Capital Group LLC and Laidlaw & Company (UK) Ltd. served as placement agents for the offering.With the successful completion of the offering, Applied DNA believes it has regained compliance with Nasdaq Listing Rule 5550(b)(1). However, Nasdaq will continue monitoring the company's ongoing compliance, and failure to maintain the required stockholders' equity in future periodic reports could result in delisting.