Nuwellis Faces Nasdaq Delisting Warning
Ticker: NUWE · Form: 8-K · Filed: Aug 12, 2024 · CIK: 1506492
| Field | Detail |
|---|---|
| Company | Nuwellis, Inc. (NUWE) |
| Form Type | 8-K |
| Filed Date | Aug 12, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, nasdaq
Related Tickers: NUWE
TL;DR
Nasdaq says NUWE might get kicked off if stock price doesn't go up by Jan 2025.
AI Summary
Nuwellis, Inc. announced on August 8, 2024, that it received a notification from Nasdaq on August 7, 2024, regarding its failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company has until January 28, 2025, to regain compliance.
Why It Matters
Failure to meet listing requirements could lead to delisting from Nasdaq, potentially impacting the stock's liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement.
Key Numbers
- January 28, 2025 — Compliance Deadline (The date by which Nuwellis must meet Nasdaq's minimum bid price requirement.)
Key Players & Entities
- Nuwellis, Inc. (company) — The company filing the report.
- Nasdaq (company) — The stock exchange where Nuwellis is listed.
- August 8, 2024 (date) — Date of the report.
- August 7, 2024 (date) — Date Nasdaq notified the company.
- January 28, 2025 (date) — Deadline for Nuwellis to regain compliance.
FAQ
What specific Nasdaq rule did Nuwellis fail to meet?
Nuwellis failed to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
When did Nuwellis receive the delisting warning?
Nuwellis received the notification from Nasdaq on August 7, 2024.
What is the deadline for Nuwellis to regain compliance with Nasdaq's listing standards?
The company has until January 28, 2025, to regain compliance.
What is the potential consequence if Nuwellis fails to regain compliance?
The potential consequence is the delisting of its common stock from the Nasdaq Capital Market.
Has Nuwellis previously been known by other names?
Yes, Nuwellis, Inc. was formerly known as CHF Solutions, Inc. (name change May 23, 2017) and Sunshine Heart, Inc. (name change November 24, 2010).
Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-08-12 09:15:42
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share NUWE Nasdaq Capital Marke
Filing Documents
- ny20033942x2_8k.htm (8-K) — 25KB
- 0001140361-24-036718.txt ( ) — 156KB
- nuwe-20240808.xsd (EX-101.SCH) — 4KB
- nuwe-20240808_lab.xml (EX-101.LAB) — 21KB
- nuwe-20240808_pre.xml (EX-101.PRE) — 16KB
- ny20033942x2_8k_htm.xml (XML) — 4KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed on May 29, 2024 and June 10, 2024, Nuwellis, Inc. (the " Company ") was notified by the Listing Qualifications Department (the " Staff ") of The Nasdaq Stock Market LLC (" Nasdaq ") that the Company did not satisfy Nasdaq Listing Rules 5550(b)(1) (the " Stockholder's Equity Requirement ") and 5550(a)(2) (the " Minimum Bid Price Requirement "), respectively, and was therefore subject to delisting from Nasdaq unless the Company timely requested a hearing before the Nasdaq Hearings Panel (the " Panel "). On July 18, 2024, Nasdaq notified the Company that it had regained compliance with the Minimum Bid Price Requirement. At a hearing before the Panel on July 23, 2024, the Company presented its plan of compliance to regain compliance with the Stockholder's Equity Requirement. On August 8, 2024, the Company was notified by Nasdaq that the Panel had granted the Company's request for continued listing, subject to, among other things, the Company's filing of its Quarterly Report on Form 10-Q for the period ending September 30, 2024, evidencing compliance with the Stockholder's Equity Requirement. Although the Company is diligently working to do so, there can be no assurance that the Company will be able to evidence compliance with all applicable listing criteria within the period of time granted by the Panel.
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. Date: August 12, 2024 NUWELLIS, INC. By: /s/ Nestor Jaramillo, Jr Name: Nestor Jaramillo, Jr. Title: President and Chief Executive Officer