Estrella Immunopharma Faces Delisting Notice
Ticker: ESLAW · Form: 8-K · Filed: Nov 25, 2024 · CIK: 1844417
| Field | Detail |
|---|---|
| Company | Estrella Immunopharma, INC. (ESLAW) |
| Form Type | 8-K |
| Filed Date | Nov 25, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $11.50, $746,286, $2.5 m, $35 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
Related Tickers: ESLA
TL;DR
Estrella Immunopharma (ESLA) got a delisting warning from the exchange.
AI Summary
Estrella Immunopharma, Inc. filed an 8-K on November 25, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as TradeUP Acquisition Corp., is based in Emeryville, CA.
Why It Matters
This filing indicates potential issues with Estrella Immunopharma's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's ability to remain publicly traded.
Key Numbers
- 001-40608 — Commission File Number (SEC file number for Estrella Immunopharma, Inc.)
- 86-1314502 — IRS Employer Identification Number (Tax identification number for Estrella Immunopharma, Inc.)
Key Players & Entities
- Estrella Immunopharma, Inc. (company) — Registrant
- TradeUP Acquisition Corp. (company) — Former company name
- November 25, 2024 (date) — Date of earliest event reported
- 5858 HORTON STREET, SUITE 370 (address) — Business and mail address
- EMERYVILLE, CA (address) — City and State of business
FAQ
What specific listing rule or standard has Estrella Immunopharma, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Estrella Immunopharma, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is November 25, 2024.
What was Estrella Immunopharma, Inc.'s former company name?
Estrella Immunopharma, Inc.'s former company name was TradeUP Acquisition Corp.
In which state was Estrella Immunopharma, Inc. incorporated?
Estrella Immunopharma, Inc. was incorporated in Delaware.
What is the business address of Estrella Immunopharma, Inc.?
The business address of Estrella Immunopharma, Inc. is 5858 HORTON STREET, SUITE 370, EMERYVILLE, CA 94608.
Filing Stats: 1,202 words · 5 min read · ~4 pages · Grade level 16.1 · Accepted 2024-11-25 16:00:32
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ESLA The Nasdaq Stock Mar
- $11.50 — of Common Stock at an exercise price of $11.50 ESLAW The Nasdaq Stock Market LLC
- $746,286 — e the Company's stockholders' equity of $746,286, as reported in the Company's Quarterly
- $2.5 m — 2024, was below the required minimum of $2.5 million, and because, as of the date of t
- $35 million — value of listed securities of at least $35 million or net income from continuing operation
- $500,000 — et income from continuing operations of $500,000 in the most recently completed fiscal y
- $1.00 — e Company's common stock has been below $1.00 per share for 30 consecutive business d
Filing Documents
- ea0222513-8k_estrella.htm (8-K) — 35KB
- 0001213900-24-102134.txt ( ) — 252KB
- esla-20241125.xsd (EX-101.SCH) — 4KB
- esla-20241125_def.xml (EX-101.DEF) — 26KB
- esla-20241125_lab.xml (EX-101.LAB) — 36KB
- esla-20241125_pre.xml (EX-101.PRE) — 25KB
- ea0222513-8k_estrella_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Transfer of Listing. On November 19, 2024, Estrella Immunopharma, Inc. (the "Company") received a letter (the "Stockholders' Equity Requirement Notice") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market ("Nasdaq") notifying the Company that it was not in compliance with the minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"), because the Company's stockholders' equity of $746,286, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, was below the required minimum of $2.5 million, and because, as of the date of the Stockholders' Equity Requirement Notice, the Company did not meet either of the alternative compliance standards, relating to market value of listed securities of at least $35 million or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. As with the Minimum Bid Price Deficiency Notice (as defined below), the Stockholders' Equity Requirement Notice has no immediate effect on the listing of the Company's common stock on The Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective, with the Stockholders' Equity Requirement. Under Nasdaq rules and as specified in the Stockholders' Equity Requirement Notice, the Company has 45 calendar days from November 19, 2024, or until Friday, January 3, 2025, to submit to Nasdaq a plan to regain compliance with the Stockholders' Equity Requirement. If the Company's plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from
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. Estrella Immunopharma, Inc. By: /s/ Peter Xu Name: Peter Xu Title: Chief Financial Officer Date: November 25, 2024 2