UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on October 8, 2024, NanoVibronix, Inc. (the “Company”) was notified by the Listing Qualifications department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the Company’s continued non-compliance with the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”) for continued listing on The Nasdaq Capital Market, the Company’s securities were subject to delisting unless the Company timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”) to address the deficiency. The Company timely requested a hearing before the Panel, which stayed any further action by Nasdaq with respect to the Company’s listing at least pending completion of the hearing and the expiration of any extension that may be granted by the Panel.
On November 19, 2024, the Company received an additional deficiency notice from the Staff indicating that the Company no longer satisfied the $2.5 million stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (the “Equity Rule”) for continued listing on The Nasdaq Capital Market, based upon the Company’s reported stockholders’ equity of $1,872,000 as of September 30, 2024. The Staff indicated that the Company’s non-compliance with the Equity Rule would be considered by the Panel at the upcoming hearing and could serve as an additional basis for delisting of the Company’s securities from Nasdaq.
The Company will present its plan to evidence compliance with all applicable criteria for continued listing on The Nasdaq Capital Market and request an extension of time to do so at the hearing before the Panel. The Company is considering all available options to regain compliance with the Nasdaq Listing Rules; however, there can be no assurance that the Panel will grant the Company’s request for continued listing or that the Company will be able to evidence compliance with the Nasdaq Listing Rules within any extension of time that may be granted by the Panel.
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.
| Date: November 22, 2024 | NANOVIBRONIX, Inc. | |
| By: | /s/ Stephen Brown | |
| Name: | Stephen Brown | |
| Title: | Chief Financial Officer | |
Cover |
Nov. 19, 2024 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Nov. 19, 2024 |
| Entity File Number | 001-36445 |
| Entity Registrant Name | NanoVibronix, Inc. |
| Entity Central Index Key | 0001326706 |
| Entity Tax Identification Number | 01-0801232 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 969 Pruitt Ave |
| Entity Address, City or Town | Tyler |
| Entity Address, State or Province | TX |
| Entity Address, Postal Zip Code | 77569 |
| City Area Code | (914) |
| Local Phone Number | 233-3004 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $0.001 per share |
| Trading Symbol | NAOV |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |