ABVC Biopharma Faces Delisting Concerns
Ticker: ABVC · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1173313
| Field | Detail |
|---|---|
| Company | Abvc Biopharma, Inc. (ABVC) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $1.00, $1 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: ABVC
TL;DR
ABVC Bio might get delisted - big trouble ahead.
AI Summary
ABVC Biopharma, Inc. filed an 8-K on July 12, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in Fremont, California, and was incorporated in Nevada.
Why It Matters
This filing indicates potential issues with ABVC Biopharma's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's ability to remain publicly traded.
Key Players & Entities
- ABVC BIOPHARMA, INC. (company) — Registrant
- July 12, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 001-40700 (identifier) — Commission File Number
- 26-0014658 (identifier) — IRS Employer Identification No.
- 44370 Old Warm Springs Blvd. Fremont, CA 94538 (address) — Business Address
FAQ
What specific listing rule or standard has ABVC Biopharma failed to satisfy?
The filing does not specify the exact listing rule or standard that ABVC Biopharma has failed to satisfy, only that a notice has been issued.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is July 12, 2024.
In which U.S. state was ABVC Biopharma, Inc. incorporated?
ABVC Biopharma, Inc. was incorporated in Nevada.
What is the Commission File Number for ABVC Biopharma, Inc.?
The Commission File Number for ABVC Biopharma, Inc. is 001-40700.
What is the business address of ABVC Biopharma, Inc.?
The business address of ABVC Biopharma, Inc. is 44370 Old Warm Springs Blvd., Fremont, CA 94538.
Filing Stats: 615 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-07-12 16:05:34
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ABVC The Nasdaq Stock Mar
- $1.00 — re for its common shares has been below $1.00 for a period of 30 consecutive business
- $1 — the Company's common shares is at least $1 for a minimum of 10 consecutive busines
Filing Documents
- ea0209346-8k_abvcbio.htm (8-K) — 25KB
- 0001213900-24-061028.txt ( ) — 193KB
- abvc-20240712.xsd (EX-101.SCH) — 3KB
- abvc-20240712_lab.xml (EX-101.LAB) — 33KB
- abvc-20240712_pre.xml (EX-101.PRE) — 22KB
- ea0209346-8k_abvcbio_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 10, 2024, ABVC BioPharma, Inc. (the " Company ") received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (" Nasdaq ") notifying the Company that the minimum bid price per share for its common shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company's common stock on Nasdaq. Under the Nasdaq Listing Rules, the Company has until January 6, 2025, to regain compliance. If at any time during such 180-day period the closing bid price of the Company's common shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. The Company, by filing this Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b). 1 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ABVC BioPharma, Inc. July 12, 2024 By: /s/ Uttam Patil Uttam Patil Chief Executive Officer 2