UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING
On June 26, 2024, Minim, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Staff had determined that the Company did not meet the terms of 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”). The Company announced today that, on June 28, 2024, it appealed the Staff Determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), to a Hearings Panel (the “Panel”) to delist the Company’s securities from The Nasdaq Capital Market because of the Company’s Stockholders’ Equity Requirement.
The hearing request to the Panel will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. In connection with its request for a hearing, the Company has also requested that the Staff determination be further stayed pending the resolution of the Company’s appeal.
The Company intends to regain compliance with the Stockholders’ Equity Requirement through a direct equity investment and/or business combination prior to the hearing with the Panel. However, there is no assurance that the Company will be successful in executing this plan.
Receipt of the letter described above from Nasdaq has no immediate effect on the listing of the Company’s common stock.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated July 2, 2024 | |
| 104 | Cover Page Interactive Data file (embedded within the Inline XBRL document) |
1
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: July 2, 2024 | By: | /s/ David Lazar |
| David Lazar | ||
| Chief Executive Officer | ||
2
Exhibit 99.1
Minim Receives Nasdaq Notification
MANCHESTER, NH, July 2, 2024 (GLOBE NEWSWIRE) -- Minim, Inc. (Nasdaq: MINM) announced today that it received a letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Staff had determined that the Company did not meet the terms of 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”). The Company announced today that, on June 28, 2024, it appealed the Staff Determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), to a Hearings Panel (the “Panel”) to delist the Company’s securities from The Nasdaq Capital Market because of the Company’s Stockholders’ Equity Requirement.
The hearing request to the Panel will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. In connection with its request for a hearing, the Company has also requested that the Staff determination be further stayed pending the resolution of the Company’s appeal.
The Company intends to regain compliance with the Stockholders’ Equity Requirement through a direct equity investment and/or business combination prior to the hearing with the Panel. However, there is no assurance that the Company will be successful in executing this plan.
About Minim
Minim, Inc. (NASDAQ: MINM) was born in 1977 as a networking company and now delivers intelligent software to protect and improve the WiFi connections we depend on to work, learn, and live. Minim’s cloud platform powers intuitive apps and a variety of routers, helping customers take control of their connected experience and privacy. Minim is headquartered in Manchester, N.H.
Contact:
David Feller
603-234-6050
dfeller@minim.com
Cover |
Jun. 26, 2024 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Jun. 26, 2024 |
| Entity File Number | 001-37649 |
| Entity Registrant Name | MINIM, INC. |
| Entity Central Index Key | 0001467761 |
| Entity Tax Identification Number | 04-2621506 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 848 Elm Street |
| Entity Address, City or Town | Manchester |
| Entity Address, State or Province | NH |
| Entity Address, Postal Zip Code | 03101 |
| City Area Code | (833) |
| Local Phone Number | 966-4646 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Preferred Stock, $0.01 par value |
| Trading Symbol | MINM |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |