Spectral AI Faces Delisting Concerns

TL;DR

Spectral AI might get delisted, big trouble for the stock.

AI Summary

Spectral AI, Inc. filed an 8-K on June 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as Rosecliff Acquisition Corp I, is incorporated in Delaware and has its principal executive offices in Dallas, Texas.

Why It Matters

This filing indicates potential issues with Spectral AI'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 stock trading and overall financial health.

Key Players & Entities

• Spectral AI, Inc. (company) — Registrant
• Rosecliff Acquisition Corp I (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• Dallas, Texas (location) — Business address
• June 3, 2024 (date) — Earliest event reported
• June 5, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share MDAI The Nasdaq Stock Mar
• $11.50 — f Common Stock, at an exercise price of $11.50 per share MDAIW The Nasdaq Stock Ma
• $35,000,000 — um market value of listed securities of $35,000,000 for continued listing on the Nasdaq, as

Filing Documents

• ea0207347-8k_spectral.htm (8-K) — 30KB
• 0001213900-24-050066.txt ( ) — 251KB
• mdai-20240603.xsd (EX-101.SCH) — 4KB
• mdai-20240603_def.xml (EX-101.DEF) — 27KB
• mdai-20240603_lab.xml (EX-101.LAB) — 37KB
• mdai-20240603_pre.xml (EX-101.PRE) — 25KB
• ea0207347-8k_spectral_htm.xml (XML) — 6KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 3, 2024, Spectral AI, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock, par value $0.0001 per share ("Common Stock"), for the last 31 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum market value of listed securities of $35,000,000 for continued listing on the Nasdaq, as set forth in Nasdaq Listing Rule 5550(b)(2) (the "Notice"). The Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Global Market, and, therefore, the Company's listing remains fully effective. The Company is provided a compliance period of 180 calendar days from the date of the Notice, or until December 2, 2024, to regain compliance with the market value of listed securities requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(C). If at any time before December 2, 2024, the closing market capitalization of the Company's Common Stock closes at or above $35,000,000 for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum market capitalization requirement, and the matter would be resolved. If the Company does not regain compliance during the review period ending December 2, 2024, then Nasdaq may grant the Company a second 180 calendar day period to regain compliance, provided the Company meets the continued listing requirement for all other initial listing standards for the Nasdaq, other than the minimum market value of listed securities requirement, and notifies Nasdaq of its intent to cure the

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. Dated: June 5, 2024 SPECTRAL AI, INC. By: /s/ Peter M. Carlson Name: Peter M. Carlson Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR