UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
As previously disclosed, on February 21, 2024, RenovoRx, Inc. (the “Company”) was notified by the Listing Qualifications Staff (the “Staff) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s securities were subject to delisting due to the Company’s non-compliance with Nasdaq Listing Rule 5550(b)(1), which requires stockholders’ equity of at least $2.5 million (the “Equity Requirement”) for continued listing on The Nasdaq Capital Market. The Company subsequently requested a hearing before the Nasdaq Hearings Panel to present its plan to regain compliance with the Equity Requirement, which has not yet occurred.
As disclosed in the Company’s Current Report on Form 8-K, as filed with the Securities and Exchange Commission on April 15, 2024, on April 11, 2024, the Company closed an at market private placement of common stock and common stock warrants for gross proceeds of $11.1 million. As a result of the financing, the Company believes that, as of the date of this Current Report, the Company has regained compliance with the Equity Requirement.
The Company has communicated with the Staff regarding its status and is awaiting Nasdaq’s confirmation that the Company has regained compliance with the Equity Requirement. In such event, Nasdaq will continue to monitor the Company’s ongoing compliance with the Equity Requirement in the normal course and, if at the time of its next periodic report the Company does not evidence compliance, the Company may again be subject to delisting
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.
| RenovoRx, Inc. | ||
| Date: April 16, 2024 | By: | /s/ Shaun Bagai |
| Name: | Shaun R. Bagai | |
| Title: | Chief Executive Officer | |