お知らせ • Jun 14
Telesis Bio Receives Non-Compliance Letter from Nasdaq
On June 6, 2024, Telesis Bio Inc. (the Company) received a notification letter (the Letter) from the Listing Qualifications Department (the Staff) of The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that the Market Value of Publicly Held Shares (MVPHS") of its common stock had been below the minimum of $5,000,000 for more than the previous 30 consecutive business days. Nasdaq Listing Rule 5450(b)(1)(C) requires listed securities to maintain a minimum MVPHS of $5,000,000 (the Minimum MVPHS Requirement), and Nasdaq Listing Rules 5810(c)(3)(D) provides that a failure to meet the Minimum MVPHS Requirement exists if the deficiency continues for a period of 30 consecutive trading days. The Letter has no immediate effect on the listing or trading of the Company's common stock on Nasdaq and, at this time, the Company's common stock will continue to trade on Nasdaq under the symbol TBIO." In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided a period of 180 calendar days, or until December 3, 2024 (the Compliance Date), to regain compliance with the Minimum MVPHS Requirement. To regain compliance with the Minimum MVPHS Requirement, the MVPHS of the Company's common stock must close at $5,000,000 or more for a minimum of ten consecutive business days prior to the Compliance Date, and the Company must otherwise satisfy The Nasdaq Global Select Market's requirements for continued listing. If the Company does not regain compliance with the Minimum MVPHS Requirement by the Compliance Date, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the Staff's delisting determination to a Nasdaq Listing Qualifications Panel (the Panel) pursuant to the procedures set in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination by the Staff to the Panel, such appeal would be successful. Alternatively, if the Company does not regain compliance with the Minimum MVPHS Requirement by the Compliance Date, the Company may transfer the listing of its common stock to The Nasdaq Capital Market, provided that the Company then meets the applicable requirements for continued listing on The Nasdaq Capital Market. To effect such a transfer, the Company would also need to pay an application fee to Nasdaq and submit an online transfer application. The Company intends to monitor its MVPHS and may, if appropriate, consider implementing available options to regain compliance. There can be no assurance that the Company will be able to regain compliance with the Minimum MVPHS Requirement or maintain compliance with any other listing requirements, or satisfy the requirements necessary to transfer the listing of its common stock to the Nasdaq Capital Market. As previously disclosed on a Current Report on Form 8-K filed on April 8, 2024, on April 3, 2024, the Company received a letter from the Staff notifying the Company that the listing of its common stock was not in compliance with Nasdaq Listing Rule 5450(b)(1)(A) for continued listing on The Nasdaq Global Select Market, which requires companies listed on The Nasdaq Global Select Market to maintain a minimum of $10,000,000 in stockholders' equity for continued listing. The Company was granted a 180-day extension to regain compliance with this requirement, which expires on September 30, 2024. As of the date of this Current Report on Form 8-K, the Company remains out of compliance with Nasdaq Listing Rule 5450(b)(1)(A).