Cero Therapeutics Faces Delisting Notice

TL;DR

Cero Therapeutics got a notice about potentially being delisted. Big trouble.

AI Summary

Cero Therapeutics Holdings, Inc. filed an 8-K on July 25, 2024, reporting a notice of delisting or failure to meet continued listing standards as of July 19, 2024. The company, formerly known as Phoenix Biotech Acquisition Corp., is incorporated in Delaware and operates in the biological products sector.

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 or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial health.

Key Players & Entities

• CERO THERAPEUTICS HOLDINGS, INC. (company) — Registrant
• July 19, 2024 (date) — Date of earliest event reported
• July 25, 2024 (date) — Date of report
• PHOENIX BIOTECH ACQUISITION CORP. (company) — Former company name
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share CERO NASDAQ Global Market
• $1.00 — common stock has been below the minimum $1.00 per share required for continued listin
• $15,000,000 — mon stock had been below the minimum of $15,000,000 for the last 30 consecutive business da

Filing Documents

• ea0209996-8k_cerotherap.htm (8-K) — 29KB
• 0001013762-24-000887.txt ( ) — 244KB
• cero-20240719.xsd (EX-101.SCH) — 4KB
• cero-20240719_def.xml (EX-101.DEF) — 26KB
• cero-20240719_lab.xml (EX-101.LAB) — 36KB
• cero-20240719_pre.xml (EX-101.PRE) — 25KB
• ea0209996-8k_cerotherap_htm.xml (XML) — 6KB

01. Notice of Delisting or Failure to Satisfy a Continued

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On July 19, 2024, CERo Therapeutics Holdings, Inc., a Delaware corporation (the " Company "), received a letter (the " Bid Price Requirement Letter ") from the staff at The Nasdaq Global Market (" Nasdaq ") notifying the Company that, for the 30 consecutive trading days prior to the date of the Bid Price Requirement Letter, the closing bid price for the Company's common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market set forth in Nasdaq Listing Rule 5450(a)(1), which is required for continued listing of the Company's common stock on Nasdaq (the " Bid Price Requirement "). On July 19, 2024, the Company, also received a letter (the " MVPHS Letter " and together with the Bid Price Requirement Letter, the " Letters ") from Nasdaq notifying the Company that the "Market Value of Publicly Held Shares" (the " MVPHS ") of its common stock had been below the minimum of $15,000,000 for the last 30 consecutive business days prior to the date of the MVPHS Letter, which is required for continued listing of the Company's common stock on Nasdaq (the " MVPHS Requirement " and, together with the Bid Price Requirement, the " Requirements "). The Letters are only notifications of deficiency, not of imminent delisting, and have no current effect on the listing or trading of the Company's securities on Nasdaq. In accordance with Nasdaq listing rules 5810(c)(3)(C) and 5810(c)(3)(D), respectively, the Company has 180 calendar days, or until January 15, 2025, to regain compliance with the Requirements. To regain compliance with the Bid Price Requirement, the bid price of the Company's common stock must close at $1.00 per share or more for a minimum of ten consecutive business days. To regain compliance with the MVPHS Requirement, the Company's common stock must trade at or above a level such that the Company's MVPHS c

View Full Filing

View this 8-K filing on SEC EDGAR