Outset Medical Faces Listing Rule Concerns
Ticker: OM · Form: 8-K · Filed: Sep 27, 2024 · CIK: 1484612
| Field | Detail |
|---|---|
| Company | Outset Medical, INC. (OM) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: OM
TL;DR
OM stock might be delisted - filing shows they're not meeting listing rules.
AI Summary
Outset Medical, Inc. filed an 8-K on September 27, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The filing indicates a potential transfer of listing, with the earliest event reported as September 23, 2024.
Why It Matters
This filing signals potential issues with Outset Medical's continued listing on its exchange, which could impact investor confidence and stock liquidity.
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 status and investor confidence.
Key Players & Entities
- Outset Medical, Inc. (company) — Registrant
- September 23, 2024 (date) — Earliest event reported
- September 27, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- 3052 Orchard Dr., San Jose, California 95134 (address) — Principal Executive Offices
FAQ
What specific listing rule or standard has Outset Medical failed to satisfy?
The filing does not specify the exact rule or standard that Outset Medical has failed to satisfy, only that a notice has been issued.
What is the potential consequence of failing to meet listing standards?
The consequence is a notice of delisting or failure to satisfy a continued listing rule, which could lead to a transfer of listing.
When was the earliest event related to this notice reported?
The earliest event reported was on September 23, 2024.
What is the company's principal executive office address?
The company's principal executive office is located at 3052 Orchard Dr., San Jose, California 95134.
What is the company's SEC file number?
The company's SEC file number is 001-39513.
Filing Stats: 795 words · 3 min read · ~3 pages · Grade level 13.9 · Accepted 2024-09-27 16:05:09
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share OM The Nasdaq S
- $1.00 — Company's common stock had fallen below $1.00 per share for 30 consecutive trading da
Filing Documents
- om-20240923.htm (8-K) — 43KB
- 0000950170-24-109993.txt ( ) — 159KB
- om-20240923.xsd (EX-101.SCH) — 29KB
- om-20240923_htm.xml (XML) — 4KB
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 September 23, 2024, Outset Medical, Inc. (the "Company") received notice (the "Notice") from the Listing Qualifications staff of The Nasdaq Stock Market LLC ("Nasdaq") that, because the closing bid price for the Company's common stock had fallen below $1.00 per share for 30 consecutive trading days, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1). The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Global Select Market, which will continue to trade on the Nasdaq Global Select Market. 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 24, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive trading days prior to March 24, 2025. If the Company does not regain compliance by March 24, 2025, the Company may be eligible for an additional 180 calendar day compliance period if it applies to transfer the listing of its common stock to the Nasdaq Capital Market. To qualify, the Company would be required to meet the continued listing requirement for the market value of its publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period. As part of its review process, Nasdaq will make a determination as to whether it believes the Company will be able to cure this deficiency. If Nasdaq staff determines that the Company will not be able to cure the deficiency, or
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 thereunto duly authorized. Outset Medical, Inc. Date: September 27, 2024 By: /s/ John Brottem John Brottem General Counsel