EYENOVIA Receives Nasdaq Delisting Warning
Ticker: HYPD · Form: 8-K · Filed: Jul 5, 2024 · CIK: 1682639
| Field | Detail |
|---|---|
| Company | Eyenovia, INC. (HYPD) |
| Form Type | 8-K |
| Filed Date | Jul 5, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, nasdaq
Related Tickers: EYEN
TL;DR
Nasdaq's threatening to kick EYENOVIA off the exchange for low stock price, they have 180 days to fix it.
AI Summary
On July 2, 2024, EYENOVIA, INC. filed an 8-K report indicating it received a notice from the Nasdaq Stock Market regarding its failure to meet the minimum bid price requirement for continued listing. The company has a 180-day compliance period to regain compliance.
Why It Matters
This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — Receiving a delisting warning from a major exchange like Nasdaq poses a significant risk to the company's market presence and investor relations.
Key Numbers
- 180-day — Compliance Period (Timeframe to regain minimum bid price)
Key Players & Entities
- EYENOVIA, INC. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange issuing notice
- July 2, 2024 (date) — Date of earliest event reported
FAQ
What specific minimum bid price requirement did EYENOVIA fail to meet?
The filing states EYENOVIA received a notice regarding failure to meet the minimum bid price requirement for continued listing on the Nasdaq Stock Market, but does not specify the exact dollar amount.
What is the deadline for EYENOVIA to regain compliance?
EYENOVIA has a 180-day compliance period from the date of the notice to regain compliance with the minimum bid price requirement.
What actions can EYENOVIA take to regain compliance?
The filing does not detail specific actions EYENOVIA plans to take, but regaining compliance typically involves increasing the stock's bid price.
What happens if EYENOVIA does not regain compliance within the 180-day period?
If EYENOVIA does not regain compliance, the Nasdaq Stock Market may initiate delisting procedures.
When was the notice of non-compliance received?
The earliest event reported in this Form 8-K is dated July 2, 2024, which is when the notice was likely received or became effective.
Filing Stats: 881 words · 4 min read · ~3 pages · Grade level 14.6 · Accepted 2024-07-05 16:01:25
Key Financial Figures
- $0.0001 — h registered) Common stock, par value $0.0001 per share EYEN The Nasdaq Stock Mar
- $1.00 — mmon stock had closed below the minimum $1.00 per share requirement for continued lis
Filing Documents
- tm2418849d1_8k.htm (8-K) — 26KB
- 0001104659-24-078085.txt ( ) — 196KB
- eyen-20240702.xsd (EX-101.SCH) — 3KB
- eyen-20240702_lab.xml (EX-101.LAB) — 33KB
- eyen-20240702_pre.xml (EX-101.PRE) — 22KB
- tm2418849d1_8k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 2, 2024, Eyenovia, Inc. ("the Company") received a letter from the staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") providing notification that, for the previous 30 consecutive business days, the bid price for the Company's common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). Nasdaq's notice has no immediate effect on the listing of the Company's common stock on The Nasdaq Capital Market, which continues to trade under the symbol "EYEN". In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until December 30, 2024, to regain compliance with this requirement. To regain compliance, the closing bid price of the Company's common stock must be $1.00 per share or more for a minimum of 10 consecutive business days at any time before December 30, 2024. If the Company does not regain compliance with Rule 5550(a)(2) by December 30, 2024, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other Nasdaq initial listing standards, except the bid price requirement, and would need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period. If it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq would notify the Company that its securities will be subject to delisting. In the event of such notification, the Company may appeal the Staff's determination to delist its securities, but there can be no assurance the Staff would grant the Company's request for continued listing. The Compa
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. EYENOVIA, INC. Dated: July 5, 2024 By: /s/ John Gandolfo John Gandolfo Chief Financial Officer