Mainz Biomed Fails Nasdaq Equity Threshold

TL;DR

Nasdaq says Mainz Biomed is too poor to stay listed, potential delisting ahead.

AI Summary

Mainz Biomed N.V. filed a 6-K on January 14, 2025, reporting that on November 27, 2024, they received a determination letter from Nasdaq stating they no longer meet the minimum $2.5 million stockholders' equity requirement for continued listing on the Nasdaq Capital Market.

Why It Matters

Failure to meet Nasdaq's minimum stockholders' equity requirement could lead to delisting, impacting the company's ability to raise capital and its stock's liquidity.

Risk Assessment

Risk Level: high — The company is at risk of being delisted from the Nasdaq Capital Market due to failing to meet the minimum stockholders' equity requirement.

Key Numbers

• $2.5 million — Minimum Stockholders' Equity (Requirement for continued listing on Nasdaq Capital Market that Mainz Biomed no longer meets.)

Key Players & Entities

• MAINZ BIOMED N.V. (company) — Filer of the 6-K report
• Nasdaq (company) — Stock exchange that issued a determination letter
• November 27, 2024 (date) — Date of the Nasdaq determination letter
• $2.5 million (dollar_amount) — Minimum stockholders' equity requirement for Nasdaq listing

FAQ

Key Financial Figures

• $2.5 million — matters, we no longer meet the minimum $2.5 million minimum stockholders’ equity requ
• $1,340,000 — a convertible note for net proceeds of $1,340,000; (ii) issued ordinary shares upon the
• $7.4 million — es upon the conversion of approximately $7.4 million in principal and interest on convertibl
• $6.1 million — received net proceeds of approximately $6.1 million through the issuance of 1,281,836 ordin
• $7.1 million — 2024 for net proceeds of approximately $7.1 million. As a result of the foregoing events,

Filing Documents

• ea0227708-6k_mainz.htm (6-K) — 11KB
• 0001213900-25-003477.txt ( ) — 12KB

From the Filing

OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2025 Commission File No. 001-41010 MAINZ BIOMED N.V. (Translation of registrant’s name into English) Robert Koch Strasse 50 55129 Mainz Germany (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F Form 40-F Compliance with Nasdaq Listing Rule 5550(b)(1) Our securities are currently listed on the Nasdaq Capital Market. On November 27, 2024, we received a staff determination letter (the “Determination Letter”) from The Nasdaq Stock Market LLC’s (“Nasdaq”) notifying us that, among other matters, we no longer meet the minimum $2.5 million minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market set forth in Listing Rule 5550(b)(1) based on our unaudited financial Rule 5810(d)(2), this deficiency is a basis for delisting. As we reported in our report on Form 6-k filed on October 18, 2024 containing the Six-Month Unaudited Financial Statements, our stockholders’ equity as of June 30, 2024 was approximately $(4.1) million. Subsequent to June 30, 2024, we (i) issued a convertible note for net proceeds of $1,340,000; (ii) issued ordinary shares upon the conversion of approximately $7.4 million in principal and interest on convertible notes; (iii) received net proceeds of approximately $6.1 million through the issuance of 1,281,836 ordinary shares pursuant to a Pre-Paid Advance Agreement entered into on June 28, 2023; and (iv) completed a registered direct offering in December 2024 for net proceeds of approximately $7.1 million. As a result of the foregoing events, as of the date of this Report on Form 6-K, our stockholders’ equity is above the $2.5 million Stockholders’ Equity Requirement. Nevertheless, if deemed in compliance, Nasdaq will continue to monitor our ongoing compliance with the Stockholders’ Equity Requirement, and if we do not evidence compliance at the time of our next periodic report, we may be subject to delisting. The information contained in this Report on Form 6-K is hereby incorporated by reference into our Registration Statement on Form F-3 (File No. 333-269091 ). 1 SIGNATURE 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. Date: January 14, 2025 By: /s/ William J. Caragol Chief Financial Officer 2

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View this 6-K filing on SEC EDGAR