ANEW Medical Faces Delisting Concerns
Ticker: GRMLW · Form: 8-K · Filed: Aug 22, 2024 · CIK: 1907223
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
ANEW Medical might get delisted, stock is in trouble.
AI Summary
ANEW Medical, Inc. (formerly Redwoods Acquisition Corp.) filed an 8-K on August 22, 2024, reporting a notice of delisting or failure to satisfy continued listing rules as of August 16, 2024. The company, incorporated in Delaware, is in the biological products sector and is headquartered in Omaha, NE.
Why It Matters
This filing indicates potential issues with ANEW Medical's continued listing on an exchange, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The filing explicitly states a notice of delisting or failure to meet continued listing rules, posing a significant risk to the company's stock.
Key Players & Entities
- ANEW Medical, Inc. (company) — Registrant
- Redwoods Acquisition Corp. (company) — Former company name
- August 16, 2024 (date) — Date of earliest event reported
- August 22, 2024 (date) — Filing date
FAQ
What specific listing rule or standard has ANEW Medical, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that ANEW Medical, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 16, 2024.
What was ANEW Medical, Inc.'s former company name?
ANEW Medical, Inc.'s former company name was Redwoods Acquisition Corp.
In which state was ANEW Medical, Inc. incorporated?
ANEW Medical, Inc. was incorporated in Delaware.
What is the IRS Employer Identification Number for ANEW Medical, Inc.?
The IRS Employer Identification Number for ANEW Medical, Inc. is 86-2727441.
Filing Stats: 572 words · 2 min read · ~2 pages · Grade level 13.2 · Accepted 2024-08-21 20:04:34
Key Financial Figures
- $15,000,000 — e of publicly held shares must close at $15,000,000 or more for a minimum of 10 consecutive
- $50,000,000 — alue of listed securities must close at $50,000,000 or more for a minimum of 10 consecutive
Filing Documents
- ea021207901-8k_anewmed.htm (8-K) — 25KB
- 0001213900-24-071576.txt ( ) — 237KB
- wena-20240816.xsd (EX-101.SCH) — 3KB
- wena-20240816_def.xml (EX-101.DEF) — 26KB
- wena-20240816_lab.xml (EX-101.LAB) — 36KB
- wena-20240816_pre.xml (EX-101.PRE) — 25KB
- ea021207901-8k_anewmed_htm.xml (XML) — 5KB
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 August 16, 2024, ANEW Medical, Inc. (the "Company") received two delinquency notification letters (the "Notices") from the Nasdaq Stock Market LLC ("Nasdaq") due to the Company's non-compliance with Nasdaq Listing Rules 5450(b)(2)(C) and 5450(b)(2)(A). The Notices cite the Company's (a) not being in compliance with the minimum Market Value of Publicly Held Shares ("MVPHS") requirement as set forth in Nasdaq Listing Rule 5450(b)(2)(C) and (b) not being in compliance with the minimum Market Value of Listed Securities (MVLS) requirement as set forth in Nasdaq Listing Rule 5450(b)(2)(A). In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided 180 calendar days, or until February 12, 2025, to regain compliance. To regain compliance, prior to February 12, 2025, (a) the Company's minimum market value of publicly held shares must close at $15,000,000 or more for a minimum of 10 consecutive business days and (b) the Company's minimum market value of listed securities must close at $50,000,000 or more for a minimum of 10 consecutive business days. If the Company fails to timely regain compliance with Nasdaq Listing Rules, the Company's common stock will be subject to delisting from Nasdaq. 1
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: August 21, 2024 ANEW MEDICAL, INC. By: /s/ Joseph Sinkule Name: Joseph Sinkule Title: Chief Executive Officer 2