EYENOVIA Receives Nasdaq Delisting Warning
Ticker: HYPD · Form: 8-K · Filed: Sep 20, 2024 · CIK: 1682639
| Field | Detail |
|---|---|
| Company | Eyenovia, INC. (HYPD) |
| Form Type | 8-K |
| Filed Date | Sep 20, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: listing-standards, delisting-risk, compliance
TL;DR
Nasdaq says EYENOVIA's stock price is too low, giving them 6 months to fix it or get booted.
AI Summary
On September 18, 2024, EYENOVIA, INC. filed an 8-K report indicating it received a notification from the Nasdaq Stock Market on September 17, 2024, that it is not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The company has 180 calendar days, until March 16, 2025, to regain compliance.
Why It Matters
This filing signals potential delisting from Nasdaq, which could negatively impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — Failure to meet the minimum bid price requirement could lead to delisting from the Nasdaq Capital Market, significantly impacting the company's stock.
Key Numbers
- 180 days — Compliance Period (Time to regain minimum bid price)
Key Players & Entities
- EYENOVIA, INC. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange
- September 18, 2024 (date) — Filing Date
- September 17, 2024 (date) — Notification Date
- March 16, 2025 (date) — Compliance Deadline
FAQ
What specific minimum bid price does EYENOVIA need to meet?
The filing states EYENOVIA received a notification that it is not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, but does not specify the exact dollar amount required.
What is the deadline for EYENOVIA to regain compliance?
EYENOVIA has 180 calendar days from the notification date of September 17, 2024, to regain compliance, making the deadline March 16, 2025.
What actions can EYENOVIA take to regain compliance?
The filing does not detail specific actions EYENOVIA plans to take, but typically companies may consider a reverse stock split to increase their bid price.
What happens if EYENOVIA fails to regain compliance?
If EYENOVIA fails to regain compliance by March 16, 2025, it risks delisting from The Nasdaq Capital Market.
When did EYENOVIA receive the notification from Nasdaq?
EYENOVIA received the notification from the Nasdaq Stock Market on September 17, 2024.
Filing Stats: 881 words · 4 min read · ~3 pages · Grade level 14.5 · Accepted 2024-09-20 16:01:20
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
- tm2424403d1_8k.htm (8-K) — 25KB
- 0001104659-24-101686.txt ( ) — 195KB
- eyen-20240918.xsd (EX-101.SCH) — 3KB
- eyen-20240918_lab.xml (EX-101.LAB) — 33KB
- eyen-20240918_pre.xml (EX-101.PRE) — 22KB
- tm2424403d1_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 September 18, 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 March 17, 2025, 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 March 17, 2025. If the Company does not regain compliance with Rule 5550(a)(2) by March 17, 2025, 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 Company
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: September 20, 2024 By: /s/ Andrew Jones Andrew Jones Chief Financial Officer