Brainstorm Cell Therapeutics Faces Delisting Concerns
Ticker: BCLI · Form: 8-K · Filed: Oct 30, 2024 · CIK: 1137883
| Field | Detail |
|---|---|
| Company | Brainstorm Cell Therapeutics Inc. (BCLI) |
| Form Type | 8-K |
| Filed Date | Oct 30, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.00005, $1.00 m, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
Brainstorm Cell Therapeutics might get delisted, stock watch!
AI Summary
Brainstorm Cell Therapeutics Inc. filed an 8-K on October 29, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is incorporated in Delaware and its principal executive offices are located in New York, NY.
Why It Matters
This filing indicates potential issues with Brainstorm Cell Therapeutics' continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- BRAINSTORM CELL THERAPEUTICS INC. (company) — Registrant
- October 29, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- New York, NY (location) — Business address city and state
FAQ
What is the primary reason for Brainstorm Cell Therapeutics Inc. filing this 8-K?
The company filed this 8-K to report a notice of delisting or failure to satisfy a continued listing rule or standard.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is October 29, 2024.
In which state is Brainstorm Cell Therapeutics Inc. incorporated?
Brainstorm Cell Therapeutics Inc. is incorporated in Delaware.
What is the company's principal business address?
The company's business address is 1325 AVENUE OF AMERICAS, 28TH FLOOR, NEW YORK, NY 10019.
What is the SEC file number for this filing?
The SEC file number for this filing is 001-36641.
Filing Stats: 1,107 words · 4 min read · ~4 pages · Grade level 13.5 · Accepted 2024-10-30 08:41:32
Key Financial Figures
- $0.00005 — nge on which registered Common Stock, $0.00005 par value BCLI NASDAQ Stock Market L
- $1.00 m — ompany has regained compliance with the $1.00 minimum bid price requirement set forth i
- $1.00 — e Common Stock needed to close at above $1.00 for at least ten consecutive trading da
Filing Documents
- tm2427087d1_8k.htm (8-K) — 30KB
- tm2427087d1_ex99-1.htm (EX-99.1) — 8KB
- 0001104659-24-112442.txt ( ) — 212KB
- bcli-20241029.xsd (EX-101.SCH) — 3KB
- bcli-20241029_lab.xml (EX-101.LAB) — 33KB
- bcli-20241029_pre.xml (EX-101.PRE) — 22KB
- tm2427087d1_8k_htm.xml (XML) — 4KB
01 Notice of Delisting or
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Transfer of Listing. On October 29, 2024, Brainstorm Cell Therapeutics Inc. (the "Company") received written notice from The Nasdaq Stock Market ("Nasdaq") stating that the Company has regained compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Minimum Bid Price Requirement") and the Nasdaq Hearing Panel has decided to continue the listing of the Company's securities on Nasdaq. Accordingly, the Company's common stock, par value $0.00005 per share (the "Common Stock"), will continue to trade on The Nasdaq Capital Market, subject to the Company's compliance with Nasdaq's continued listing requirements. As previously disclosed in the Company's filings with the SEC, the Company received a notice from the Nasdaq on November 1, 2023 notifying the Company that the Company was not in compliance with Minimum Bid Price Requirement. On May 1, 2024, Nasdaq notified the Company that because it had not satisfied the Minimum Bid Price Requirement within the initial 180-day compliance period, the Common Stock would be delisted from the Nasdaq Capital Market at the opening of business on May 10, 2024, unless the Company requested a hearing before the Nasdaq Hearings Panel. On May 2, 2024, the Company requested a hearing to appeal the delisting determination, and thereafter completed the expedited review process. On June 3, 2024, the Company received notice from Nasdaq that the Nasdaq Hearing Panel had granted the Company a temporary exception until October 21, 2024 to, if necessary, effect a reverse stock split and thereafter regain compliance with the Minimum Bid Price Requirement. In an effort to satisfy the Minimum Bid Price Requirement, on September 30, 2024 the Company effected a reverse split of the Common Stock at a ratio of one-for-fifteen (the "Reverse Stock Split"). The Common S
01 Financial Statements and
Item 9.01 Financial Statements and Exhibits. (d): Exhibits: Exhibit No. Description 99.1 Press Release issued by Brainstorm Cell Therapeutics Inc., dated October 30, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
SIGNATURES
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. BRAINSTORM CELL THERAPEUTICS INC. Date: October 30 , 2024 By: /s/ Chaim Lebovits Chaim Lebovits Chief Executive Officer