공시 • Nov 12
Finch Therapeutics Files Form 15 Finch Therapeutics Group, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.001 per share. 공시 • Oct 21
Finch Therapeutics to Delist Its Common Stock from the Nasdaq Global Select Market on or About October 31, 2024 and Announces SEC Deregistration Finch Therapeutics Group, Inc. (‘Finch’ or the ‘Company’) announced that it has provided notification to The Nasdaq Stock Market, LLC (‘Nasdaq’) of its intent to delist the Company’s common stock, par value $0.001 per share (the ‘Common Stock’), from the Nasdaq Global Select Market. Finch expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the ‘SEC’) and Nasdaq relating to the delisting of its Common Stock on or about October 31, 2024. The removal of the Common Stock from Nasdaq will be effective 10 days after the filing of the Form 25. As previously disclosed, the Common Stock has been trading on a market operated by the OTC Markets Group Inc. (the ‘OTC’) since suspended from trading on Nasdaq on May 28, 2024 in light of Nasdaq's ‘public shell’ determination. Following the delisting, the Company expects that the Common Stock will continue to be traded on a market operated by the OTC. No assurances can be provided, however, that trading of the Common Stock on the OTC will be maintained. The withdrawal of the Common Stock from listing and registration is being undertaken following a determination by the Company’s Board of Directors (the ‘Board’) that such delisting and deregistration is in the best interest of the Company and the holders of its Common Stock. The Board’s decision was based on careful review of numerous factors, including the potential for limiting the significant costs associated with preparing and filing periodic reports with the SEC and the legal, audit and other expenses associated with being a reporting company, as well as the substantial costs and demands on management’s time under the Sarbanes-Oxley Act of 2002, SEC rules and Nasdaq listing standards. The Company has previously received notice from the Listing Qualifications Department of Nasdaq of certain failures to comply with Nasdaq’s requirements for continued listing, including a determination letter, dated February 16, 2024, informing the Company of Nasdaq’s belief that the Company is a ‘public shell’ under the Nasdaq criteria and a deficiency letter, dated November 15, 2023, notifying the Company that, for the previous 35 consecutive business days, it did not meet the requirement to have a market value of publicly held shares of the Company’s Common Stock of at least $5.0 million pursuant to Nasdaq Listing Rule 5450(b)(1)(C). In addition, on March 28, 2024, the Company notified the Nasdaq that, as a result of the resignation of Susan Graf from the Board and Audit Committee, each effective as of March 26, 2024, the Company did not meet the requirements of Nasdaq Listing Rule 5605(c)(2), which requires that the Company’s audit committee be comprised of three (3) independent directors. 공시 • May 29
Finch Therapeutics Group, Inc.(OTCPK:FNCH) dropped from NASDAQ Composite Index Finch Therapeutics Group, Inc. has been removed from NASDAQ Composite Index . 공시 • May 25
Finch Therapeutics Group Receives the Delisting Letter from the Office of the General Counsel of Nasdaq Notifying the Listing Panel Determines to Delist the Company from Nasdaq As previously disclosed, on February 16, 2024, Finch Therapeutics Group, Inc. was notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC that, based on the Staff’s review of the Company and pursuant to Listing Rule 5101, the Staff believed that the Company no longer had an operating business and was a “public shell” and that the continued listing of its securities was no longer warranted. The Company appealed the Staff’s determination with respect to its public shell status by requesting a hearing before a Nasdaq Listing Qualifications Panel (the “Listing Panel”), which hearing took place on April 23, 2024. On May 23, 2024, the Company received a letter (the “Delisting Letter”) from the Office of the General Counsel of Nasdaq notifying the Company that the Listing Panel had determined to delist the Company from Nasdaq. Accordingly, trading of the Company’s common stock will be suspended at the opening of trading on May 28, 2024 and, no sooner than 45 calendar days following the date of the Delisting Letter, Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission, which will remove the Company’s common stock from listing and registration on the Nasdaq Global Select Market. As a result, the Company’s common stock is expected to begin trading on the over-the-counter (“OTC”) market. No assurances can be provided, however, that trading of the Company’s common stock on the OTC will commence promptly, or at all, or will be maintained. 공시 • May 18
Nasdaq Listing Qualifications Department Issues an Additional Staff Determination to Finch Therapeutics Group for Continued Non-Compliance with the Market Value of Publicly Held Shares Rule As previously disclosed, on November 15, 2023, Finch Therapeutics Group, Inc. (the ‘Company’) received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that, for the last 35 consecutive business days, it did not meet the requirement to have a market value of publicly held shares of the Company’s common stock, par value $0.001 per share (the ‘Common Stock’), of at least $5.0 million pursuant to Nasdaq Listing Rule 5450(b)(1)(C) (the ‘MVPHS Rule’). In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company was provided a period of 180 calendar days, or until May 13, 2024 (the ‘Compliance Deadline’), to regain compliance with the MVPHS Rule. The Company did not regain compliance with the MVPHS Rule prior to the Compliance Deadline and on May 14, 2024, the Nasdaq Listing Qualifications Department issued an Additional Staff Determination that the Company’s continued noncompliance with the MVPHS Rule serves as an additional basis for delisting the Common Stock from The Nasdaq Global Select Market. Also as previously disclosed, the Company previously received a determination letter from the Nasdaq Listing Qualifications Department informing the Company of Nasdaq’s belief that the Company is a ‘public shell’ under the Nasdaq criteria. The Company appealed the Nasdaq Listing Qualifications Department’s determination with respect to its public shell status by requesting a hearing before a Nasdaq Listing Qualifications Panel (the ‘Listing Panel’), which hearing took place on April 23, 2024. The Company expects a decision from the Listing Panel within or up to 30 days of the hearing. The Additional Staff Determination served as a formal notification that, in addition to considering the Company’s appeal of the Nasdaq Listing Qualifications Department’s determination with respect to the Company’s public shell status, the Listing Panel would consider the Company’s continued noncompliance with the MVPHS Rule in its decision regarding the Company’s continued listing on The Nasdaq Global Select Market. In response, on May 15, 2024, the Company submitted a request to the Listing Panel for the transfer of the listing of the Common Stock to The Nasdaq Capital Market. The Company’s appeal of the delisting determination may not be successful and the Company’s request for the transfer of the listing of its Common Stock to The Nasdaq Capital Market may not be granted. Even if the appeal is successful and the Company’s request for the transfer of the Common Stock to The Nasdaq Capital Market is granted, there can be no assurance that the Company will be able to maintain compliance with all applicable listing criteria. 