DarioHealth Faces Nasdaq Listing Rule Violation
Ticker: DRIO · Form: 8-K · Filed: Sep 20, 2024 · CIK: 1533998
| Field | Detail |
|---|---|
| Company | Dariohealth CORP. (DRIO) |
| Form Type | 8-K |
| Filed Date | Sep 20, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: listing-rule-violation, delisting-risk, nasdaq
Related Tickers: DRIO
TL;DR
DarioHealth might get kicked off Nasdaq - they missed a rule.
AI Summary
DarioHealth Corp. received a notice on September 16, 2024, indicating it failed to meet a continued listing rule or standard for the Nasdaq Capital Market. The company is currently evaluating its options to regain compliance and avoid potential delisting.
Why It Matters
Failure to meet listing standards could lead to delisting from the Nasdaq, significantly impacting the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company has received a notice of non-compliance with Nasdaq listing rules, which could lead to delisting.
Key Players & Entities
- DarioHealth Corp. (company) — Registrant
- Nasdaq Capital Market (company) — Exchange where listing is at risk
- September 16, 2024 (date) — Date of notice of non-compliance
FAQ
What specific Nasdaq listing rule did DarioHealth Corp. fail to meet?
The filing states DarioHealth Corp. received a notice of "failure to satisfy a continued listing rule or standard" for the Nasdaq Capital Market, but does not specify the exact rule violated.
What is the date of the notice of non-compliance?
The date of the earliest event reported, which is the notice of failure to satisfy a continued listing rule, is September 16, 2024.
What are the potential consequences of failing to meet Nasdaq listing standards?
The potential consequence is delisting from the Nasdaq Capital Market, as indicated by the notice received by DarioHealth Corp.
What actions is DarioHealth Corp. taking in response to the notice?
The filing indicates that DarioHealth Corp. is currently evaluating its options to regain compliance with the applicable Nasdaq listing standards.
Has DarioHealth Corp. previously changed its name?
Yes, the company was formerly known as LabStyle Innovations Corp. and changed its name on November 1, 2011.
Filing Stats: 692 words · 3 min read · ~2 pages · Grade level 13.3 · Accepted 2024-09-20 16:05:29
Key Financial Figures
- $0.0001 — registered Common Stock, par value $0.0001 per share DRIO The Nasdaq Capital M
- $1.00 — id price for its common stock was below $1.00 per share for the last 30 consecutive b
Filing Documents
- tm2424228d1_8k.htm (8-K) — 25KB
- 0001104659-24-101690.txt ( ) — 194KB
- drio-20240916.xsd (EX-101.SCH) — 3KB
- drio-20240916_lab.xml (EX-101.LAB) — 33KB
- drio-20240916_pre.xml (EX-101.PRE) — 22KB
- tm2424228d1_8k_htm.xml (XML) — 4KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On September 16, 2024, DarioHealth Corp. (the "Company") received a written notice from the Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the Company's closing bid price for its common stock was below $1.00 per share for the last 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until March 17, 2025, to regain compliance with the minimum bid price requirement. During the compliance period, the Company's common stock will continue to be listed and traded on the Nasdaq Stock Market. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period. If the Company is not in compliance by March 17, 2025, the Company may be afforded a second 180-calendar day compliance period. To qualify for this additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq with the exception of the minimum bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company intends to monitor the closing bid price of its common stock between now and March 17, 2025, and will consider available options to resolve the Company's noncompliance with the minimum bid price requirement as may be necessary. There can be no assurance that the Company will be
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. Dated: September 20, 2024 DARIOHEALTH CORP. By: /s/ Zvi Ben David Name: Zvi Ben David Title: Chief Financial Officer, Treasurer, & Secretary