GRI BIO Confirms Emerging Growth Company Status in 8-K
Ticker: GRI · Form: 8-K · Filed: Jan 19, 2024 · CIK: 1824293
| Field | Detail |
|---|---|
| Company | Gri Bio, INC. (GRI) |
| Form Type | 8-K |
| Filed Date | Jan 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: regulatory-filing, emerging-growth-company, corporate-governance
TL;DR
**GRI BIO is an emerging growth company, meaning less SEC red tape but also less public info for investors.**
AI Summary
GRI BIO, Inc. filed an 8-K on January 19, 2024, to report that it is an "emerging growth company" as defined by the SEC. This status allows the company to take advantage of reduced reporting requirements, which can save money and resources. For investors, this means GRI BIO, Inc. may provide less detailed financial information than larger, more established companies, which could impact their ability to fully assess the company's financial health and future prospects.
Why It Matters
This filing confirms GRI BIO, Inc.'s status as an emerging growth company, which impacts its regulatory obligations and the level of financial transparency it must provide to investors.
Risk Assessment
Risk Level: medium — The emerging growth company status means less public disclosure, which can increase information asymmetry and risk for investors.
Analyst Insight
Investors should be aware that GRI BIO, Inc.'s emerging growth company status means less frequent or detailed disclosures, requiring them to conduct more independent due diligence and potentially accept higher information risk.
Key Numbers
- $0.0001 — par value per share (par value of GRI BIO, Inc.'s Common Stock)
Key Players & Entities
- GRI BIO, Inc. (company) — the registrant filing the 8-K
- 001-40034 (dollar_amount) — Commission File Number
- January 19, 2024 (date) — Date of Report (Date of earliest event reported)
- Delaware (company) — State of incorporation for GRI BIO, Inc.
- 2223 Avenida de la Playa, Suite 208 La Jolla, CA 92037 (company) — Address of principal executive offices
- (619) 400-1170 (dollar_amount) — Registrant's telephone number
- Common Stock, par value $0.0001 per share (company) — Title of each class of securities registered
- GRI (company) — Trading Symbol(s) for Common Stock
- The Nasdaq Capital Market (company) — Name of each exchange on which registered
Forward-Looking Statements
- GRI BIO, Inc. will continue to operate with reduced reporting requirements due to its emerging growth company status. (GRI BIO, Inc.) — high confidence, target: 2024-12-31
FAQ
What is the primary purpose of this 8-K filing by GRI BIO, Inc.?
The primary purpose of this 8-K filing is to report that GRI BIO, Inc. is an "emerging growth company" as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934, as indicated by the checked box next to "Emerging Growth Company" on the form.
What is the trading symbol and the exchange where GRI BIO, Inc.'s common stock is registered?
GRI BIO, Inc.'s common stock trades under the symbol "GRI" and is registered on The Nasdaq Capital Market, as stated in the "Securities registered pursuant to Section 12(b) of the Act" section.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is January 19, 2024, as specified under "Date of Report (Date of earliest event reported): January 19, 2024."
What is the state of incorporation for GRI BIO, Inc.?
GRI BIO, Inc. is incorporated in Delaware, as indicated by "Delaware (State or other jurisdiction of incorporation)" in the filing.
Has GRI BIO, Inc. elected not to use the extended transition period for complying with new accounting standards?
The filing does not explicitly state whether GRI BIO, Inc. has elected not to use the extended transition period. The checkbox for this election is not marked, only the "Emerging Growth Company" box is checked.
Filing Stats: 653 words · 3 min read · ~2 pages · Grade level 14 · Accepted 2024-01-19 16:15:15
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share GRI The Nasdaq Capital Mark
Filing Documents
- val-20240119.htm (8-K) — 28KB
- val-20240119_g1.jpg (GRAPHIC) — 16KB
- val-20240119_g2.jpg (GRAPHIC) — 2KB
- 0001824293-24-000018.txt ( ) — 182KB
- val-20240119.xsd (EX-101.SCH) — 2KB
- val-20240119_lab.xml (EX-101.LAB) — 24KB
- val-20240119_pre.xml (EX-101.PRE) — 13KB
- val-20240119_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders On January 19, 2024, at 11:00 a.m. Eastern Time, GRI Bio, Inc. (the "Company") held a Special Meeting of Stockholders (the "Special Meeting") virtually at www.virtualshareholdermeeting.com/GRI2024SM. Of the Company's 4,520,233 shares of common stock issued and outstanding and eligible to vote as of the record date of December 18, 2023, a quorum of 1,977,444 shares, or approximately 43.7% of the eligible shares, was present or represented by proxy. Each of the matters set forth below is described in detail in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on January 2, 2024. The following actions were taken at the Special Meeting: Proposal 1 The proposal to approve an amendment to the amended and restated certificate of incorporation of the Company to effect a reverse stock split of the Company's common stock at a ratio within the range of not less than one-for-two and not more than one-for-nine, with the exact ratio to be set within this range by the Company's board of directors (the "Board") in its sole discretion (without reducing the authorized number of shares of Company common stock) and with the Board able to elect to abandon such proposed amendment and not effect the reverse stock split authorized by the Company's stockholders in its sole discretion, was approved by a majority of the votes cast by Company stockholders at the Special Meeting. Votes For Votes Against Votes Abstained Broker Non-Votes 1,158,012 817,185 2,247 0 Proposal 2 The proposal to approve a postponement or adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of Proposal 1, was approved by a majority of the votes cast by Company stockholders at the Special Meeting. Votes For Votes Against Votes Abstained Broker Non-Votes 1,252,187 716,895 8,362 0
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. Date: January 19, 2024 GRI Bio, Inc. By: /s/ Leanne Kelly Leanne Kelly Chief Financial Officer