OneMedNet Corp. Faces Nasdaq Delisting Warning

TL;DR

Nasdaq's kicking ONMD off the exchange, they're scrambling to fix it.

AI Summary

OneMedNet Corp. announced on June 20, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating its options to regain compliance and avoid delisting.

Why It Matters

This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major exchange like Nasdaq presents a significant risk to the company's operations and stock value.

Key Players & Entities

• OneMedNet Corp. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• June 20, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ONMD The Nasdaq
• $11.50 — of Common Stock at an exercise price of $11.50 per share ONMDW The Nasdaq Stock Ma

Filing Documents

• form8-k.htm (8-K) — 44KB
• ex99-1.htm (EX-99.1) — 27KB
• 0001493152-24-024878.txt ( ) — 295KB
• onmd-20240620.xsd (EX-101.SCH) — 4KB
• onmd-20240620_def.xml (EX-101.DEF) — 26KB
• onmd-20240620_lab.xml (EX-101.LAB) — 36KB
• onmd-20240620_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): June 20, 2024 ONEMEDNET CORPORATION (Exact name of registrant as specified in its charter) Delaware 001-40386 86-2076743 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 6385 Old Shady Oak Road , Suite 250 Eden Prairie , MN 55344 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 800 - 918-7189 Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value per share ONMD The Nasdaq Stock Market LLC Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share ONMDW The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 20, 2024, OneMedNet Corporation (the "Company") received an expected delinquency notification letter (the "Notice") from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq"), which indicated that, as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 (the "Form 10-Q") by the applicable due date, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires Nasdaq-listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the "SEC"). The Notice states that the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan to regain compliance, then Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of the Form 10-Q, or until December 11, 2024, to regain compliance; however, there can be no assurance that these events will occur. Neither the Notice nor the Company's noncompliance with the Rule has an immediate effect on the listing or trading of the Company's securities on Nasdaq, which will continue to trade on The Nasdaq Capital Market under the symbol "ONMA." The Company continues to work diligently to complete the Form 10-Q and plans to file the same as promptly as possible to regain compliance with the Rule. As required under Nasdaq Listing Rule 5810(b), the Company issued a press release on June 24, 2024, announcing that it had received the Notice, its plan for compliance and other matters. A copy of this press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. Item 9.01. Financial (d) Exhibits. Exhibit No. Description 99.1 Press Release dated June 24, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Dated: June 24, 2024 ONEMEDNET CORPORATION By: /s/ Aaron Green Aaron Green Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR