Renovaro Inc. Faces Delisting Concerns
Ticker: LNAI · Form: 8-K · Filed: Sep 17, 2024 · CIK: 1527728
| Field | Detail |
|---|---|
| Company | Renovaro Inc. (LNAI) |
| Form Type | 8-K |
| Filed Date | Sep 17, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $1 m, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, corporate-actions
TL;DR
Renovaro might get delisted, check their listing status ASAP.
AI Summary
Renovaro Inc. filed an 8-K on September 17, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, with the earliest event reported on September 12, 2024. The company was formerly known as Enochian Biosciences Inc. and Renovaro Biosciences Inc.
Why It Matters
This filing signals potential issues with Renovaro Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's market presence and stock liquidity.
Key Players & Entities
- RENOVARO INC. (company) — Registrant
- Enochian Biosciences Inc. (company) — Former company name
- Renovaro Biosciences Inc. (company) — Former company name
- September 12, 2024 (date) — Earliest event reported date
- September 17, 2024 (date) — Filing date
FAQ
What specific listing rule or standard has Renovaro Inc. failed to satisfy?
The filing does not specify the exact listing rule or standard that Renovaro Inc. has failed to satisfy, only that a notice has been issued.
What is the reason for the potential transfer of listing mentioned in the filing?
The filing states 'Transfer of Listing' as an item information, but does not provide the specific reasons or the destination exchange for this potential transfer.
When was the earliest event reported that led to this 8-K filing?
The earliest event reported was on September 12, 2024.
What were Renovaro Inc.'s previous names?
Renovaro Inc. was formerly known as Enochian Biosciences Inc. and Renovaro Biosciences Inc.
What is the SIC code for Renovaro Inc.?
The Standard Industrial Classification (SIC) code for Renovaro Inc. is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 13.9 · Accepted 2024-09-17 17:15:42
Key Financial Figures
- $0.0001 — ch Registered Common Stock, par value $0.0001 per share RENB The Nasdaq Stock Mar
- $1 m — mmon Stock "), fails to comply with the $1 minimum bid price required for continued
- $1.00 — of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecut
Filing Documents
- e5942_8-k.htm (8-K) — 26KB
- 0001731122-24-001431.txt ( ) — 196KB
- renb-20240912.xsd (EX-101.SCH) — 3KB
- renb-20240912_lab.xml (EX-101.LAB) — 33KB
- renb-20240912_pre.xml (EX-101.PRE) — 22KB
- e5942_8-k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On September 12, 2024, Renovaro Inc. (the " Company ") received a deficiency notice from The Nasdaq Stock Market (" Nasdaq ") informing the Company that its common stock, par value $0.0001 per share (the " Common Stock "), fails to comply with the $1 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Common Stock for the 30 consecutive business days prior to the date of the notice from Nasdaq. Nasdaq's notice has no immediate effect on the listing of the Common Stock on The Nasdaq Capital Market and, at this time, the Common Stock will continue to trade on The Nasdaq Capital Market under the symbol "RENB". Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until March 11, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to March 11, 2025. If the Company is unable to regain compliance by March 11, 2025, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the minimum bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the minimum bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180 calendar day period, Nasdaq will notify the Company of its determination 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. RENOVARO INC. By: /s/ Simon Tarsh Name: Simon Tarsh Title: Interim Chief Financial Officer Date: September 17, 2024