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FORM
CURRENT REPORT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
As previously disclosed on Form 8-K filed with the Securities and Exchange Commission on November 25, 2022, the Company received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the minimum bid price requirement of 1.00 per share under the Nasdaq Listing Rule 5450(a)(1) (the “Rule”). The Notice states that under Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until May 22, 2023, to regain compliance under the Rule.
On May 23, 2023, the Company received a letter from the Nasdaq Regulation staff (“Letter”) stating that the Company did not regain compliance under the Rule by May 22, 2023, and such non-compliance will serve as an additional basis for delisting of the Company’s common stock from The Nasdaq Stock Market. Further, the Nasdaq Hearings Panel, which on May 18, 2023, heard the Company’s appeal for non-compliance with the stockholders’ equity requirement as set forth in Nasdaq Listing Rule 5450(b)(1)(A), will consider the Letter in their decision regarding the Company’s continued listing on The Nasdaq Global Market. The Company intends to provide additional information to Nasdaq Hearings Panel by the required timeframe.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Allarity Therapeutics, Inc. | ||
| By: | /s/ James G. Cullem | |
| James G. Cullem | ||
| Chief Executive Officer | ||
| Dated: May 26, 2023 | ||
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