Cardio Diagnostics Faces Delisting Notice
Ticker: CDIOW · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1870144
| Field | Detail |
|---|---|
| Company | Cardio Diagnostics Holdings, Inc. (CDIOW) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.00001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: CDIO
TL;DR
CDIO got a delisting warning, might be off the exchange soon.
AI Summary
Cardio Diagnostics Holdings, Inc. (CDIO) filed an 8-K on June 7, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company was formerly known as Mana Capital Acquisition Corp. and changed its name on June 29, 2021. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and valuation of the company's stock.
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
- Cardio Diagnostics Holdings, Inc. (company) — Registrant
- CDIO (company) — Ticker Symbol
- Mana Capital Acquisition Corp. (company) — Former Company Name
- June 7, 2024 (date) — Filing Date
- June 3, 2024 (date) — Earliest Event Date
- June 29, 2021 (date) — Name Change Date
FAQ
What specific listing rule or standard has Cardio Diagnostics Holdings, Inc. failed to satisfy?
The filing states a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
What is the earliest event date reported in this 8-K filing?
The earliest event date reported is June 3, 2024.
When did Cardio Diagnostics Holdings, Inc. change its name from Mana Capital Acquisition Corp.?
The company changed its name on June 29, 2021.
What is the primary business of Cardio Diagnostics Holdings, Inc.?
The company's Standard Industrial Classification is 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES'.
What other items are included in this 8-K filing besides the notice of delisting?
The filing also includes 'Financial Statements and Exhibits'.
Filing Stats: 1,026 words · 4 min read · ~3 pages · Grade level 14.3 · Accepted 2024-06-07 16:30:10
Key Financial Figures
- $0.00001 — ch registered Common Stock, par value $0.00001 CDIO The Nasdaq Stock Market LLC
- $1.00 — e Company's common stock has been below $1.00 per share for 30 consecutive business d
Filing Documents
- cdio_8k.htm (8-K) — 31KB
- 0001079973-24-000850.txt ( ) — 248KB
- cdio-20240603.xsd (EX-101.SCH) — 4KB
- cdio-20240603_def.xml (EX-101.DEF) — 26KB
- cdio-20240603_lab.xml (EX-101.LAB) — 36KB
- cdio-20240603_pre.xml (EX-101.PRE) — 25KB
- cdio_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 3, 2024, Cardio Diagnostics Holdings, Inc. (the "Company") received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is no longer in compliance with Nasdaq Listing Rule 5550(a)(2), because the minimum bid price of the Company's common stock has been below $1.00 per share for 30 consecutive business days (the "Notice"). The Notice has no immediate effect on the listing or trading of the Company's common stock or warrants on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until December 2, 2024 (the "Compliance Date"), to regain compliance with the minimum bid price requirement. If at any time before the Compliance Date the bid price for the Common Stock closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide written notification to the Company that it has regained compliance with the minimum bid price requirement. In the event the Company does not regain compliance with the minimum bid price requirement by December 2, 2024, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required, among other things, to meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and would also need to provide written notice to Nasdaq of its intention to cure the bid price deficiency during the additional compliance period. If the Company fails to regain compliance during the compliance period (including a second compliance period, if applicable), then Nasdaq will notify the Company of its determination to delist its common stock, at which point the Company may appeal Nasdaq's delisting determin
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Dated: June 7, 2024 CARDIO DIAGNOSTICS HOLDINGS INC. By: /s/ Elisa Luqman Elisa Luqman Chief Financial Officer