RPID Receives Nasdaq Delisting Notice for Sub-$1.00 Bid Price

TL;DR

**RPID got a delisting notice from Nasdaq for its low stock price, has until July 29 to fix it.**

AI Summary

RAPID MICRO BIOSYSTEMS, INC. (RPID) announced on February 2, 2024, that it received a delisting notice from The Nasdaq Global Select Market because its Class A Common Stock failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. The company has 180 calendar days, until July 29, 2024, to regain compliance. This matters to investors because failure to meet the minimum bid price requirement could lead to the stock being delisted, making it harder to trade and potentially reducing its value.

Why It Matters

This filing indicates that RPID's stock price has fallen below a critical threshold, signaling potential financial distress and risking its listing on a major exchange, which could impact liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company faces a significant risk of delisting from Nasdaq, which would severely impact its stock's liquidity and investor appeal.

Analyst Insight

A smart investor would closely monitor RPID's stock price and any announcements regarding its plan to regain Nasdaq compliance, as failure to do so by July 29, 2024, could lead to delisting and further devaluation.

Key Numbers

• $1.00 — Minimum Bid Price (Nasdaq's required minimum bid price for continued listing)
• 30 — Consecutive Business Days (duration RPID's stock traded below $1.00, triggering the notice)
• 180 — Calendar Days (time granted to RPID to regain compliance with Nasdaq's listing rule)

Key Players & Entities

• RAPID MICRO BIOSYSTEMS, INC. (company) — registrant receiving delisting notice
• The Nasdaq Global Select Market (company) — exchange from which RPID may be delisted
• $1.00 (dollar_amount) — minimum bid price requirement
• February 2, 2024 (date) — date of earliest event reported and filing
• July 29, 2024 (date) — deadline to regain compliance
• 30 (number) — consecutive business days below minimum bid price
• 180 (number) — calendar days to regain compliance

Forward-Looking Statements

• RPID will implement a reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. (RPID) — medium confidence, target: July 29, 2024
• RPID's stock price will remain below $1.00, leading to eventual delisting from Nasdaq. (RPID) — medium confidence, target: July 29, 2024

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value per share RPID The Nasdaq Glo
• $1.00 — 1 (the "common stock") had closed below $1.00 per share for the thirty (30) consecuti

Filing Documents

• rpid-20240202.htm (8-K) — 31KB
• 0001380106-24-000014.txt ( ) — 164KB
• rpid-20240202.xsd (EX-101.SCH) — 2KB
• rpid-20240202_lab.xml (EX-101.LAB) — 26KB
• rpid-20240202_pre.xml (EX-101.PRE) — 13KB
• rpid-20240202_htm.xml (XML) — 3KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On February 2, 2024, Rapid Micro Biosystems, Inc. (the "Company") received a notification letter from the Nasdaq Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the bid price for the Company's Class A common stock, par value $0.01 (the "common stock") had closed below $1.00 per share for the thirty (30) consecutive business days (December 18, 2023 through February 1, 2024) and that the Company therefore is not in compliance with the minimum bid price requirement for continued inclusion on the Nasdaq Stock Market under Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). The notification has no immediate effect on the listing of the Company's common stock on Nasdaq. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days to regain compliance with the Bid Price Requirement, which will expire on July 31, 2024 (the "Compliance Date"). To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 or higher for a minimum of ten (10) consecutive business days, and in such case, the Staff will provide the Company with written confirmation that it has regained compliance with the Bid Price Requirement. The Staff has the discretion to extend the ten (10) business day period to up to twenty (20) consecutive business days pursuant to Nasdaq Listing Rule 5810(c)(3)(H). If the Company does not regain compliance by the Compliance Date, the Company may be eligible for an additional 180 calendar compliance period. To qualify, the Company would need to transfer the listing of the Company's common stock to the Nasdaq Capital Market, provided the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the Bid Price Requirement

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. RAPID MICRO BIOSYSTEMS, INC. Date: February 2, 2024 By: /s/ Sean Wirtjes Sean Wirtjes Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR