공시 • Sep 20
Presto Automation Files Form 15 Presto Automation 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 $0.0001 per share. 공시 • Sep 06
The Nasdaq Stock Market to Delist Common Stock of Presto Automation The Nasdaq Stock Market announced that it will delist the common stock and warrants of Presto Automation Inc. The company's securities were suspended on August 8, 2024, and have not traded on Nasdaq since that time. 공시 • Aug 07
Presto Automation Inc. Receives Non-Compliance Letter from Nasdaq As previously disclosed, on February 6, 2024, Presto Automation Inc. (the Company") received a notice (the Notice") from the Listing Qualifications Department (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") stating that the Company was not in compliance with the requirement to maintain a minimum Market Value of Listed Securities (MVLS") of $50 million, as set in Nasdaq Listing Rule 5450(b)(2)(A) (the MVLS Requirement"), because the MVLS of the Company was below $50 million for the 30 consecutive business days prior to the date of the Notice. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days from the date of the Notice, or until August 5, 2024, to regain compliance with the MVLS Requirement. On August 6, 2024, the Company received a Staff determination letter from Nasdaq informing the Company that the Company had not regained compliance with the MVLS Requirement and this matter serves as an additional basis for delisting the Company's securities from Nasdaq. As previously disclosed, the Company had already received a separate Staff determination letter from Nasdaq informing the Company that the Company had not regained compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set in Nasdaq Listing Rule 5450(a)(1). The Company had previously disclosed that it intended to request a hearing before a Nasdaq Hearings Panel. The Company requested such a hearing on July 5, 2024, but on August 6, 2024, the Company informed Nasdaq that it was withdrawing its appeal. As a result of the Company withdrawing its appeal, on August 6, 2024, the Company received a letter from Nasdaq informing the Company that its shares of common stock, par value $0.0001 per share (the Common Stock"), and warrants will be suspended at the open of business on August 8, 2024 and that Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission (the SEC"), which will remove the Company's securities from listing and registration on Nasdaq. The Company expects that the trading of its common stock will transition to the OTC Bulletin Board or pink
sheets" market shortly. The transition to over-the-counter markets is not expected to affect the Company's operations or business and does not change its reporting requirements under SEC rules. The Company cannot predict what the impact of the transition will be on the liquidity in its Common Stock. 공시 • Jul 04
Presto Automation Receives Staff Determination Letter from Nasdaq Due to its Not Regains Compliance with the Bid Price Requirement As previously disclosed, on December 28, 2023, Presto Automation Inc. (the ‘Company’) received a notice (the ‘Notice’) from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company was not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1) (the ‘Bid Price Requirement’), because the closing bid price of the Company’s common stock, par value $0.0001 per share (the ‘Common Stock’), was below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days from the date of the Notice, or until June 25, 2024, to regain compliance with the Bid Price Requirement. On June 27, 2024, the Company received a Staff determination letter (the ‘Staff Determination Letter’) from Nasdaq informing the Company that the Company had not regained compliance with the Bid Price Requirement. The Staff Determination Letter noted that unless the Company requests an appeal of the Staff’s determination by July 5, 2024, the Company’s Common Stock and warrants will be scheduled for delisting at the opening of business on July 9, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. The Company intends to request a hearing before a Nasdaq Hearings Panel (the ‘Panel’) on or before July 5, 2024, which will stay any further delisting action by the Staff pending the ultimate outcome of the hearing. There can be no assurance the Panel will grant any request for continued listing or that the Company will be able to regain compliance with the applicable listing criteria within the period of time that may be granted by the Panel. The Company’s Common Stock and warrants will remain listed and eligible for trading on the Nasdaq Global Market at least pending the ultimate conclusion of the hearing process. Previously, on June 14, 2024, the Company’s board of directors (the ‘Board’) approved a proposal to effect a reverse split of the Company's Common Stock in a range between 1-25 and 1-100, subject to approval by the Company’s stockholders at Special Meeting scheduled for July 16, 2024. Assuming stockholder approval, the Board intends to effect a reverse stock split as soon as practical thereafter with the goal of regaining compliance with the Bid Price Requirement. Further, as previously disclosed, the Company is subject to two other deficiency notices from Nasdaq relating to (i) the requirement to maintain a minimum Market Value of Publicly Held Securities of $15 million and (ii) the requirement to maintain a minimum Market Value of Listed Securities of $50 million. These deficiencies may become an additional basis for delisting, and as such, the Company intends to address these concerns before the Panel. 공시 • May 18
Presto Automation Inc. announced delayed 10-Q filing On 05/16/2024, Presto Automation Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.