Longeveron Faces Nasdaq Delisting Warning

TL;DR

Nasdaq says Longeveron's stock price is too low, needs to hit $1 by Aug 26 or get booted.

AI Summary

Longeveron Inc. received a notice on March 4, 2024, indicating it failed to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company must regain compliance by August 26, 2024, by maintaining a minimum closing bid price of $1.00 per share for at least ten consecutive business days.

Why It Matters

Failure to regain compliance could lead to Longeveron's shares being delisted from the Nasdaq, potentially impacting liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company is at high risk of delisting from the Nasdaq Capital Market due to failing to meet the minimum bid price requirement.

Key Numbers

• $1.00 — Minimum Bid Price (Required for continued listing on Nasdaq)
• August 26, 2024 — Compliance Deadline (Date by which Longeveron must meet the minimum bid price)

Key Players & Entities

• Longeveron Inc. (company) — Registrant
• Nasdaq Capital Market (company) — Stock Exchange
• March 4, 2024 (date) — Notice Date
• August 26, 2024 (date) — Compliance Deadline
• $1.00 (dollar_amount) — Minimum Bid Price Requirement

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value per share LGVN The Nasdaq
• $1.00 m — stock ("Common Stock") did not meet the $1.00 minimum bid price pursuant to Nasdaq List
• $1.00 — ompliance Date, the bid price closes at $1.00 or more per share for a minimum of ten
• $0.10 — Common Stock has a closing bid price of $0.10 or less for ten consecutive trading day

Filing Documents

• ea0201295-8k_longeveron.htm (8-K) — 28KB
• 0001213900-24-020524.txt ( ) — 200KB
• lgvn-20240304.xsd (EX-101.SCH) — 3KB
• lgvn-20240304_lab.xml (EX-101.LAB) — 33KB
• lgvn-20240304_pre.xml (EX-101.PRE) — 22KB
• ea0201295-8k_longeveron_htm.xml (XML) — 4KB

01 Notice of Delisting

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 4, 2024, Longeveron Inc. (the "Company") received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") that the Company's Class A common stock ("Common Stock") did not meet the $1.00 minimum bid price pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Notice does not result in the immediate delisting of the Company's Common Stock and, pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days, or until August 31, 2024 (the "Compliance Date"), to regain compliance with the Minimum Bid Price Requirement. If, at any time before the Compliance Date, the bid price closes at $1.00 or more per share for a minimum of ten consecutive business days (subject to Nasdaq's discretion to increase the minimum period to up to 20 consecutive business days pursuant to Nasdaq Listing Rule 5810(c)(3)(H)), Nasdaq would provide written notification to the Company that it again complies with the Minimum Bid Price Requirement and the Common Stock will continue to be eligible for listing on the Nasdaq Capital Market unless other eligibility deficiencies exist. However, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii), if the Company's Common Stock has a closing bid price of $0.10 or less for ten consecutive trading days before the Compliance Date, Nasdaq can issue a Staff Determination Letter, which, unless appealed, would subject our Common Stock to immediate suspension and delisting. If the Company does not regain compliance with the Minimum Bid Price Requirement by the Compliance Date, the Company could be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirements for the market value of publicly held shares and all other initial listing standards fo

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements. Any statements about the Company's expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends," and similar words or phrases. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties which are subject to change based on various important factors, some of which are beyond the Company's control. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Current Report on Form 8-K and are subject to a number of risks, uncertainties and assumptions including, without limitation, risks and factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and the Company's Quarterly Reports on Form 10-Q, which are on file with the SEC and available on the SEC's website at www.sec.gov. The Company does not undertake any obligation to update any forward-looking statements made in this Current Report on Form 8-K as a result of new information, future events or otherwise. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant

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