Hyperfine, Inc. Faces Delisting Concerns
Ticker: HYPR · Form: 8-K · Filed: May 31, 2024 · CIK: 1833769
| Field | Detail |
|---|---|
| Company | Hyperfine, Inc. (HYPR) |
| Form Type | 8-K |
| Filed Date | May 31, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
Hyperfine's stock might get delisted, big trouble ahead.
AI Summary
Hyperfine, Inc. filed an 8-K on May 31, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as HealthCor Catalio Acquisition Corp., is incorporated in Delaware and has its principal executive offices in Guilford, Connecticut.
Why It Matters
This filing indicates potential issues with Hyperfine, Inc.'s continued listing on an exchange, which could impact its stock price and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event for a publicly traded company.
Key Numbers
- 001-39949 — SEC File Number (Identifies the company's filing history with the SEC.)
- 0000950170-24-067303 — Accession Number (Unique identifier for this specific SEC filing.)
Key Players & Entities
- Hyperfine, Inc. (company) — Registrant
- HealthCor Catalio Acquisition Corp. (company) — Former Company Name
- May 29, 2024 (date) — Earliest event reported
- May 31, 2024 (date) — Filing Date
- Delaware (jurisdiction) — State of Incorporation
- Guilford, Connecticut (location) — Principal Executive Offices
FAQ
What specific listing rule or standard has Hyperfine, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Hyperfine, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing is May 29, 2024.
What was Hyperfine, Inc.'s former company name?
Hyperfine, Inc.'s former company name was HealthCor Catalio Acquisition Corp.
In which state is Hyperfine, Inc. incorporated?
Hyperfine, Inc. is incorporated in Delaware.
What is the address of Hyperfine, Inc.'s principal executive offices?
The address of Hyperfine, Inc.'s principal executive offices is 351 New Whitfield Street, Guilford, Connecticut 06437.
Filing Stats: 885 words · 4 min read · ~3 pages · Grade level 13.8 · Accepted 2024-05-31 16:06:20
Key Financial Figures
- $0.0001 — hich registered Class A common stock, $0.0001 par value per share HYPR The Nasdaq
- $1.00 — (the "Common Stock"), has fallen below $1.00 per share for 30 consecutive business d
Filing Documents
- hypr-20240529.htm (8-K) — 39KB
- 0000950170-24-067303.txt ( ) — 154KB
- hypr-20240529.xsd (EX-101.SCH) — 25KB
- hypr-20240529_htm.xml (XML) — 5KB
01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 29, 2024, Hyperfine, Inc. (the "Company") received written notice (the "Notice") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the closing bid price for the Company's Class A common stock, par value $0.0001 per share (the "Common Stock"), has fallen below $1.00 per share for 30 consecutive business days, the Company no longer meets the minimum bid price requirement for continued inclusion on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). This Notice has no immediate effect on the listing or trading of the Company's Common Stock, which continues to trade on The Nasdaq Global Market under the symbol "HYPR". The Notice also does not affect the ongoing business operations of the Company or its reporting requirements with the Securities and Exchange Commission. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A) (the "Compliance Period Rule"), the Company has been provided an initial period of 180 calendar days, or until November 25, 2024, (the "Compliance Date") to regain compliance with the Bid Price Requirement. To regain compliance, the closing bid price of the Company's Common Stock must be at least $1.00 per share for a minimum of 10 consecutive business days as required under the Compliance Period Rule (unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H)). If the Company does not regain compliance with the Bid Price Requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would need to transfer the listing of its Common Stock to The Nasdaq Capital Market and meet the continued listing requirement for the market value of publicly held shares and all other initia
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. HYPERFINE, INC. Date: May 31, 2024 By: /s/ Brett Hale Brett Hale Chief Administrative Officer, Chief Financial Officer, Treasurer and Corporate Secretary