UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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) |
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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: July 2, 2024 | By: | /s/ David Lazar |
| David Lazar | ||
| Chief Executive Officer | ||
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