EYENOVIA Faces Nasdaq Delisting Over Bid Price

TL;DR

EYENOVIA might get kicked off Nasdaq due to low stock price.

AI Summary

On December 12, 2024, EYENOVIA, INC. filed an 8-K report indicating a potential delisting from the Nasdaq Capital Market. The company received a notice from Nasdaq on December 10, 2024, stating it failed to meet the minimum bid price requirement for continued listing.

Why It Matters

This filing signals a significant risk for EYENOVIA, INC. shareholders as the company may be removed from a major stock exchange, potentially impacting liquidity and valuation.

Risk Assessment

Risk Level: high — The company received a notice of delisting from Nasdaq, indicating a failure to meet continued listing requirements.

Key Numbers

• 001-38365 — Commission File Number (EYENOVIA's SEC identifier)

Key Players & Entities

• EYENOVIA, INC. (company) — Registrant
• Nasdaq Capital Market (company) — Stock Exchange
• December 12, 2024 (date) — Report Date
• December 10, 2024 (date) — Notice Date

FAQ

Key Financial Figures

• $0.0001 — on which registered) Common stock, $0.0001 par value EYEN The Nasdaq Stock Mar
• $1.00 — mmon stock had closed below the minimum $1.00 per share requirement for continued lis
• $0.10 — common stock had a closing bid price of $0.10 or less for 10 consecutive trading days

Filing Documents

• tm2431083d1_8k.htm (8-K) — 26KB
• 0001104659-24-128428.txt ( ) — 196KB
• eyen-20241212.xsd (EX-101.SCH) — 3KB
• eyen-20241212_lab.xml (EX-101.LAB) — 33KB
• eyen-20241212_pre.xml (EX-101.PRE) — 22KB
• tm2431083d1_8k_htm.xml (XML) — 4KB

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. As previously disclosed, 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). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until March 17, 2025, to regain compliance with this requirement (the "Bid Price Cure Period"). On December 12, 2024, the Company received a letter from Nasdaq notifying the Company that, as of December 11, 2024, the common stock had a closing bid price of $0.10 or less for 10 consecutive trading days. Accordingly, the Company is subject to the provisions of Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule"). As a result, Nasdaq has determined to delist the Company's securities from The Nasdaq Capital Market, notwithstanding the Bid Price Cure Period, which is rendered unavailable by the Low Priced Stocks Rule. The Company has the right to appeal Nasdaq's determination by December 19, 2024, and it intends to appeal such determination before a panel (the "Hearings Panel"). The hearing request will stay the suspension of the trading of the Company's common stock pending the decision of the Hearings Panel. At such hearing, the Company intends to submit its plan to regain compliance with the applicable Nasdaq listing rules discussed above. On December 12, 2024, the Company filed a preliminary proxy statement for a Special Meeting of Stockholders to be held on January 21, 2025 to consider certain proposals, including approval of a reverse stock split, which is intended to result in an increase in t

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. Date: December 13, 2024 /s/ Michael Rowe Michael Rowe Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR