CLENE INC. RECEIVES NASDAQ DELISTING NOTICE FOR BID PRICE VIOLATION

TL;DR

**CLNN got a delisting notice from Nasdaq for low stock price.**

AI Summary

Clene Inc. (CLNN) announced on January 30, 2024, that it received a delisting notice from The Nasdaq Capital Market because its common stock and warrants failed to meet the minimum bid price requirement. This means CLNN's stock price has been too low for too long, potentially leading to its removal from Nasdaq. For investors, this is a significant concern as delisting can severely impact liquidity and the perceived value of their shares, making it harder to buy or sell the stock.

Why It Matters

Delisting from Nasdaq can drastically reduce a stock's liquidity and investor confidence, making it much harder for shareholders to trade their shares and potentially leading to a further decline in value.

Risk Assessment

Risk Level: high — The risk is high because delisting can severely impact stock liquidity and investor confidence, potentially leading to a significant loss for shareholders.

Analyst Insight

A smart investor would carefully evaluate the potential for Clene Inc. to regain Nasdaq compliance and consider the significant liquidity risks associated with a potential delisting before making any investment decisions. Monitoring future filings for a compliance plan is crucial.

Key Numbers

• $0.0001 — Common Stock Par Value (The par value of Clene Inc.'s common stock.)

Key Players & Entities

• Clene Inc. (company) — registrant receiving delisting notice
• The Nasdaq Capital Market (company) — exchange from which Clene Inc. faces delisting
• January 30, 2024 (date) — date of earliest event reported regarding delisting notice
• $0.0001 (dollar_amount) — par value of Common Stock

Forward-Looking Statements

• Clene Inc.'s stock price will experience increased volatility and downward pressure. (CLNN) — high confidence, target: Q1 2024
• Clene Inc. will attempt to regain compliance with Nasdaq's listing requirements. (Clene Inc.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value CLNN The Nasdaq Capital M
• $11.50 — e-half of one share of Common Stock for $11.50 per share CLNNW The Nasdaq Capital
• $1.00 — ny's common stock was below the minimum $1.00 per share per share requirement for the

Filing Documents

• clnn20240130_8k.htm (8-K) — 30KB
• 0001437749-24-002692.txt ( ) — 180KB
• clnn-20240130.xsd (EX-101.SCH) — 4KB
• clnn-20240130_def.xml (EX-101.DEF) — 14KB
• clnn-20240130_lab.xml (EX-101.LAB) — 18KB
• clnn-20240130_pre.xml (EX-101.PRE) — 14KB
• clnn20240130_8k_htm.xml (XML) — 5KB

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. As previously reported in a Current Report on Form 8-K on August 4, 2023, Clene Inc. (the "Company") received a notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the Company's common stock was below the minimum $1.00 per share per share requirement for the last 30 consecutive business days (the "Minimum Bid Price Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had a period of 180 calendar days, or until January 29, 2024, to regain compliance with the Minimum Bid Price Requirement. On January 30, 2024, the Company received a notice from Nasdaq that, while the Company has not regained compliance with the Minimum Bid Price Requirement, in accordance with Nasdaq Listing Rule 5810(c)(3)(A), it is eligible for an additional 180 calendar day period, or until July 29, 2024, to regain compliance with the Minimum Bid Price Requirement (the "January Notice"). The January Notice has no immediate effect on the listing of the Company's common stock and its common stock will continue to be listed on the Nasdaq Capital Market under the symbol "CLNN." Nasdaq's determination to grant an additional 180 calendar day period for the Company to regain compliance is based on the Company 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 on the Company's written notice to Nasdaq on January 16, 2024 of its intention to cure the deficiency during the additional 180-day compliance period, including by effecting a reverse stock split, if necessary. If at any time during this additional 180-day compliance period, the bid price of the Company's common stock closes at

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. CLENE INC. Date: January 31, 2024 By: /s/ Robert Etherington Robert Etherington President and Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR