Peraso Inc. Faces Delisting Concerns

TL;DR

Peraso's in danger of getting delisted, stock might tank.

AI Summary

Peraso Inc. filed an 8-K on November 18, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The earliest event date reported is November 13, 2024. The company is incorporated in Delaware and headquartered in San Jose, California.

Why It Matters

This filing indicates potential issues with Peraso Inc.'s continued listing on an exchange, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock and operations.

Key Players & Entities

• Peraso Inc. (company) — Registrant
• November 13, 2024 (date) — Earliest event date reported
• November 18, 2024 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation
• San Jose, California (location) — Principal executive offices
• MoSys, Inc. (company) — Former company name
• MONOLITHIC SYSTEM TECHNOLOGY INC (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share PRSO The Nasdaq Stock Mar
• $2.5 million — stockholders' equity was below Nasdaq's $2.5 million minimum stockholders' equity requiremen
• $2,026,000 — of September 30, 2024 of approximately $2,026,000. As previously disclosed by the Compan
• $2.25 — k, having an original exercise price of $2.25 per share, issued to the Holders on Feb
• $1.30 — Warrants at a reduced exercise price of $1.30 per share in consideration for the Comp
• $2.6 million — eceipt of net proceeds of approximately $2.6 million from the Warrant Inducement Offering, t

Filing Documents

• ea0221597-8k_perasoinc.htm (8-K) — 28KB
• 0001213900-24-099630.txt ( ) — 196KB
• prso-20241113.xsd (EX-101.SCH) — 3KB
• prso-20241113_lab.xml (EX-101.LAB) — 33KB
• prso-20241113_pre.xml (EX-101.PRE) — 22KB
• ea0221597-8k_perasoinc_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 13, 2024, Peraso Inc. (the "Company") notified The Nasdaq Stock Market LLC ("Nasdaq") that, as of September 30, 2024, its stockholders' equity was below Nasdaq's $2.5 million minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"). In the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "10-Q"), the Company reported stockholders' equity as of September 30, 2024 of approximately $2,026,000. As previously disclosed by the Company in its Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (the "SEC") on November 5, 2024, the Company entered into inducement offer letter agreements (the "Inducement Letters") with certain holders (the "Holders") of existing Series B warrants (the "Existing Warrants") to purchase up to an aggregate of 2,246,030 shares of the Company's common stock, having an original exercise price of $2.25 per share, issued to the Holders on February 8, 2024. Pursuant to the Inducement Letters, the Holders agreed to exercise for cash their Existing Warrants at a reduced exercise price of $1.30 per share in consideration for the Company's agreement to issue in a private placement new Series C common stock purchase warrants to purchase an aggregate of 2,246,030 shares of common stock and new Series D common stock purchase warrants to purchase an aggregate of 2,246,030 shares of common stock (the "Warrant Inducement Offering"). As previously disclosed by the Company in the 10-Q, as a result of the Company's receipt of net proceeds of approximately $2.6 million from the Warrant Inducement Offering, the Company's stockholders' equity is now in excess of $2.5 million. Accordingly, as of the date of this report, the Company believes that it has regai

forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms

forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "seeks," "projects," "intends," "plans," "might," "possible," "potential," "predicts," "may," "would," "could," "will" or "should" or, in each case, their negative or other variations or comparable terminology, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements are based on management's expectations, beliefs and forecasts concerning future events impacting the Company. One should carefully consider the risks and uncertainties described in the "Risk Factors" section of the Company's latest Annual Report on Form 10-K, the Company's quarterly reports on Form 10-Q for the periods ended March 31, 2024, June 30, 2024 and September 30, 2024, and other documents filed by the Company from time to time with the SEC. The Company undertakes no obligation to update or revise any forward-looking securities laws. 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. PERASO INC. Date: November 18, 2024 By: /s/ James Sullivan James Sullivan Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR