Bio-Path Holdings Merges with Exegenesis Bio, Inc.
Ticker: BPTH · Form: 8-K · Filed: Nov 25, 2024 · CIK: 1133818
| Field | Detail |
|---|---|
| Company | Bio-Path Holdings, Inc. (BPTH) |
| Form Type | 8-K |
| Filed Date | Nov 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $2,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger, acquisition, name-change, listing
Related Tickers: EXGS
TL;DR
Bio-Path is merging with Exegenesis Bio, changing its name to Exegenesis Bio, and will trade as EXGS on Nasdaq.
AI Summary
On November 19, 2024, Bio-Path Holdings, Inc. filed an 8-K report detailing the closing of its previously announced merger with Exegenesis Bio, Inc. The merger was approved by Bio-Path's stockholders on November 18, 2024. Following the merger, Bio-Path Holdings, Inc. will change its name to Exegenesis Bio, Inc. and will trade under the ticker symbol 'EXGS' on the Nasdaq Capital Market.
Why It Matters
This merger signifies a significant change in Bio-Path Holdings' corporate structure and strategic direction, potentially impacting its future operations and stock performance under a new name and ticker symbol.
Risk Assessment
Risk Level: medium — Mergers and acquisitions inherently carry risks related to integration, market reception, and the success of the combined entity's future strategies.
Key Players & Entities
- Bio-Path Holdings, Inc. (company) — Registrant company
- Exegenesis Bio, Inc. (company) — Company merging with Bio-Path
- November 19, 2024 (date) — Date of report
- November 18, 2024 (date) — Date of stockholder approval for merger
- EXGS (ticker) — New ticker symbol for the combined company
- Nasdaq Capital Market (company) — Exchange where the combined company will trade
FAQ
What is the effective date of the merger between Bio-Path Holdings, Inc. and Exegenesis Bio, Inc.?
The merger was effective as of November 19, 2024.
What was the outcome of the stockholder meeting on November 18, 2024?
Bio-Path's stockholders approved the merger with Exegenesis Bio, Inc. on November 18, 2024.
What will be the new name of the company after the merger?
The company will change its name to Exegenesis Bio, Inc.
What is the new ticker symbol for the combined company?
The combined company will trade under the ticker symbol 'EXGS'.
On which stock exchange will the combined company be listed?
The combined company will be listed on the Nasdaq Capital Market.
Filing Stats: 749 words · 3 min read · ~2 pages · Grade level 13.8 · Accepted 2024-11-25 16:15:18
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M
- $2,500,000 — holders' equity requirement of at least $2,500,000 pursuant to Nasdaq Listing Rule 5550(b)
Filing Documents
- tm2429498d1_8k.htm (8-K) — 29KB
- 0001104659-24-122574.txt ( ) — 199KB
- bpth-20241119.xsd (EX-101.SCH) — 3KB
- bpth-20241119_lab.xml (EX-101.LAB) — 33KB
- bpth-20241119_pre.xml (EX-101.PRE) — 22KB
- tm2429498d1_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. On November 19, 2024, Bio-Path Holdings, Inc. (the "Company") received a letter (the "Letter") from the Nasdaq Stock Market Hearings Panel (the "Panel") granting the Company's request for continued listing on the Nasdaq Capital Market in connection with the Company's appeal of the delisting determination to the Panel (as defined below), subject to certain conditions. On or before January 31, 2025, the Company must (i) demonstrate compliance with the minimum stockholders' equity requirement of at least $2,500,000 pursuant to Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"), (ii) publicly disclose compliance with the Stockholder's Equity Requirement in accordance with the terms of the Letter and (iii) provide the Panel with income projections for the next twelve months and evidence compliance with all applicable criteria for continued listing on the Nasdaq Capital Market. If the Company does not satisfy these requirements, it may be subject to delisting. The Panel reserves the right to reconsider the terms of the extension based on any event, condition or circumstance that exists or develops that would, in the opinion of the Panel, make continued listing inadvisable or unwarranted. As previously disclosed, on March 12, 2024, the Company received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the Stockholders' Equity Requirement. On June 12, 2024, the Company received a letter from Nasdaq granting an extension (the "Extension Letter") until September 8, 2024 to demonstrate compliance with the Stockholders' Equity Requirement in accordance with the terms of the Extension Letter. As previously disclosed, on September 12, 2024, the Company received a delisting determination letter from Nasdaq advising the Company that the Company did not meet the terms of the Extension Letter. As previously disclosed, on Septem
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. BIO-PATH HOLDINGS, INC. Dated: November 25, 2024 By: /s/ Peter H. Nielsen Peter H. Nielsen President and Chief Executive Officer