Cardio Diagnostics Faces Delisting Notice
Ticker: CDIOW · Form: 8-K · Filed: Dec 4, 2024 · CIK: 1870144
| Field | Detail |
|---|---|
| Company | Cardio Diagnostics Holdings, Inc. (CDIOW) |
| Form Type | 8-K |
| Filed Date | Dec 4, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.00001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, corporate-actions
Related Tickers: CDIO
TL;DR
CDIO got a notice about possibly being delisted - big trouble ahead.
AI Summary
Cardio Diagnostics Holdings, Inc. filed an 8-K on December 4, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard, and the transfer of its listing. The company was formerly known as Mana Capital Acquisition Corp. and changed its name on June 29, 2021.
Why It Matters
This filing indicates potential issues with the company's continued listing on an exchange, which could impact its stock's liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress for the company.
Key Players & Entities
- Cardio Diagnostics Holdings, Inc. (company) — Registrant
- Mana Capital Acquisition Corp. (company) — Former company name
- December 4, 2024 (date) — Date of report and earliest event
- June 29, 2021 (date) — Date of name change
FAQ
What specific 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 significance of the transfer of listing mentioned in the filing?
The filing mentions a 'Transfer of Listing' alongside the delisting notice, suggesting the company may be moving its listing to a different exchange or market.
When did Cardio Diagnostics Holdings, Inc. change its name from Mana Capital Acquisition Corp.?
The company changed its name from Mana Capital Acquisition Corp. on June 29, 2021.
What is the exact date of this 8-K filing?
The filing is dated December 4, 2024.
What is the company's primary business as indicated by its SIC code?
The company's Standard Industrial Classification (SIC) code is 2835, which corresponds to 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES'.
Filing Stats: 1,086 words · 4 min read · ~4 pages · Grade level 14.5 · Accepted 2024-12-04 16:30:07
Key Financial Figures
- $0.00001 — ch registered Common Stock, par value $0.00001 CDIO The Nasdaq Stock Market LLC
- $1.00 — on Stock") had closed below the minimum $1.00 per share requirement for continued lis
Filing Documents
- cdio_8k.htm (8-K) — 31KB
- 0001079973-24-001660.txt ( ) — 248KB
- cdio-20241204.xsd (EX-101.SCH) — 4KB
- cdio-20241204_def.xml (EX-101.DEF) — 26KB
- cdio-20241204_lab.xml (EX-101.LAB) — 36KB
- cdio-20241204_pre.xml (EX-101.PRE) — 25KB
- cdio_8k_htm.xml (XML) — 6KB
01
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 letter (the "First Nasdaq Bid Price Letter") 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 (the "Common Stock") had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until December 2, 2024, to regain compliance. As of the date of this report the Common Stock has not regained compliance with the Minimum Bid Price Requirement. However, in a letter dated December 4, 2024 (the "Second Nasdaq Bid Price Letter"), Nasdaq notified the Company that Nasdaq's Staff has determined that the Company is eligible for an additional 180 calendar day period, or until June 2, 2025, to regain compliance (the "Second Compliance Period"). The determination is based on the Company's meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the Minimum Bid Price Requirement, and the Company's written notice of its intention to cure the deficiency during the Second Compliance Period by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the end of the Second Compliance Period in order to timely regain compliance. The Second Nasdaq Bid Price Letter has no immediate effect on the listing or trading of the Common Stock. The Company intends to cure the deficie
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: December 4, 2024 CARDIO DIAGNOSTICS HOLDINGS INC. By: /s/ Elisa Luqman Elisa Luqman Chief Financial Officer