NovaBay Pharmaceuticals Faces Delisting Notice
Ticker: NBY · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1389545
Sentiment: bearish
Topics: delisting, compliance, listing-rule
Related Tickers: NBY
TL;DR
NBY got a delisting notice, stock might be delisted.
AI Summary
NovaBay Pharmaceuticals, Inc. filed an 8-K on June 7, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The earliest event reported was on June 4, 2024. The company is incorporated in Delaware and its principal executive offices are located at 2000 Powell Street, Suite 1150, Emeryville, CA 94608.
Why It Matters
This filing indicates potential issues with NovaBay Pharmaceuticals' compliance with stock exchange listing requirements, which could lead to the delisting of its shares.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- NovaBay Pharmaceuticals, Inc. (company) — Registrant
- June 4, 2024 (date) — Earliest event reported
- June 7, 2024 (date) — Filing date
- 2000 Powell Street, Suite 1150, Emeryville, CA 94608 (location) — Principal Executive Offices
FAQ
What is the specific reason for NovaBay Pharmaceuticals' notice of delisting?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing', but the specific rule or standard is not detailed in the provided text.
When was the earliest event reported that led to this notice?
The earliest event reported was on June 4, 2024.
What is NovaBay Pharmaceuticals' primary business?
NovaBay Pharmaceuticals, Inc. is in the 'PHARMACEUTICAL PREPARATIONS' industry, SIC code 2834.
Where are NovaBay Pharmaceuticals' principal executive offices located?
The principal executive offices are located at 2000 Powell Street, Suite 1150, Emeryville, CA 94608.
What is the Commission File Number for NovaBay Pharmaceuticals?
The Commission File Number for NovaBay Pharmaceuticals is 001-33678.
Filing Stats: 787 words · 3 min read · ~3 pages · Grade level 10.6 · Accepted 2024-06-07 07:30:13
Key Financial Figures
- $0.01 — h Registered Common Stock , par value $0.01 per share NBY NYSE American Indicat
- $2.0 million — ve stockholders' equity of (i) at least $2.0 million if it has reported losses from continui
- $4.0 million — most recent fiscal years; (ii) at least $4.0 million if it has reported losses from continui
- $6.0 million — recent fiscal years; and (iii) at least $6.0 million if it has reported losses from continui
Filing Documents
- nby20240606_8k.htm (8-K) — 29KB
- ex_684481.htm (EX-99.1) — 10KB
- logo.jpg (GRAPHIC) — 4KB
- 0001437749-24-019536.txt ( ) — 178KB
- nby-20240604.xsd (EX-101.SCH) — 3KB
- nby-20240604_def.xml (EX-101.DEF) — 11KB
- nby-20240604_lab.xml (EX-101.LAB) — 15KB
- nby-20240604_pre.xml (EX-101.PRE) — 11KB
- nby20240606_8k_htm.xml (XML) — 3KB
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 June 4, 2024, NovaBay Pharmaceuticals, Inc. (the "Company") was notified by NYSE American LLC ("NYSE American") that the Company's plan to regain compliance with NYSE American's continued listing standards had been accepted. As previously disclosed, the Company was notified by NYSE American on April 18, 2024 and May 28, 2024 that it is not in compliance with the continued listing standards of the NYSE American Company Guide (the "Company Guide") set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide, requiring a listed company to have stockholders' equity of (i) at least $2.0 million if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years; (ii) at least $4.0 million if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years; and (iii) at least $6.0 million if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years, respectively. The Company was required to submit a plan to NYSE American by May 18, 2024 addressing how it intends to regain compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide by October 18, 2025. The Company submitted a plan prior to the deadline. On June 4, 2024, the Company received notice from NYSE American that it had accepted the Company's plan and granted a plan period through October 18, 2025. During the plan period, the Company will be subject to quarterly monitoring for compliance with the plan. If the Company does not regain compliance with NYSE American's listing standards by October 18, 2025, or if the Company does not make progress consistent with its plan, then NYSE American may initiate delisting proceedings. The Company's common stock will continue to be listed on NYSE American during the plan
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1 Press Release, dated June 7, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. NovaBay Pharmaceuticals, Inc. By: /s/ Justin Hall Justin Hall Chief Executive Officer and General Counsel Dated: June 7, 2024