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CURRENT REPORT
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Item 8.01 Other Events.
On January 11, 2024, Minim, Inc. (the “Company”) received a deficiency letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement of at least $2,500,000 for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”).
In accordance with Nasdaq rules, the Company had to submit a plan to the Staff to regain compliance (the “Compliance Plan”) with the Stockholders’ Equity Requirement. On March 13, 2024, the Company provided the Staff with the Compliance Plan, including that it had executed a definitive merger agreement with privately held e2Companies, LLC, and that, following the transactions contemplated therein, the stockholder's equity of the post-merger company is expected to be in excess of $500 million.
On March 14, 2024, the Company received a letter from the Staff informing it that the Compliance Plan submitted was sufficient for the Staff to grant an extension to June 23, 2024, in order for the Company to complete the Compliance Plan and cure the deficiency in the Stockholders’ Equity Requirement.
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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.
| MINIM, INC. | ||
| Date: March 15, 2024 | By: | /s/ David Lazar |
| David Lazar | ||
| Chief Executive Officer | ||
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