STRATA Skin Sciences Faces NASDAQ Delisting for Bid Price Non-Compliance

TL;DR

**SSKN got a NASDAQ delisting notice for low stock price; fix it by June 24, 2024, or get booted!**

AI Summary

STRATA Skin Sciences, Inc. (SSKN) announced on December 27, 2023, that it received a delisting notice from The NASDAQ Stock Market LLC because its common stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. This is a significant concern for investors because if SSKN cannot regain compliance by June 24, 2024, its shares could be delisted, making them harder to trade and potentially reducing their value.

Why It Matters

This matters to investors because delisting from NASDAQ can severely impact a stock's liquidity and investor confidence, potentially leading to a significant drop in share price.

Risk Assessment

Risk Level: high — The risk is high because delisting from a major exchange like NASDAQ can drastically reduce a stock's value and trading accessibility.

Analyst Insight

A smart investor would closely monitor SSKN's stock price and any announcements regarding its plan to regain NASDAQ compliance, as failure to do so by June 24, 2024, could lead to delisting and further value erosion.

Key Numbers

• $1.00 — Minimum Bid Price (The threshold SSKN's common stock failed to maintain for 30 consecutive business days.)
• 30 — Consecutive Business Days (The period over which SSKN's stock price was below the minimum bid requirement.)
• December 27, 2023 — Date of Notice (The date STRATA Skin Sciences, Inc. received the delisting notice.)
• June 24, 2024 — Compliance Deadline (The final date by which SSKN must regain compliance with NASDAQ's listing rules.)

Key Players & Entities

• STRATA Skin Sciences, Inc. (company) — the registrant facing delisting
• The NASDAQ Stock Market LLC (company) — the exchange that issued the delisting notice
• $1.00 (dollar_amount) — the minimum bid price requirement
• December 27, 2023 (date) — date of earliest event reported and delisting notice
• June 24, 2024 (date) — deadline to regain compliance

Forward-Looking Statements

• STRATA Skin Sciences, Inc. will implement a reverse stock split to increase its share price. (STRATA Skin Sciences, Inc.) — medium confidence, target: 2024-06-24
• The stock price of SSKN will remain volatile as the compliance deadline approaches. (SSKN) — high confidence, target: 2024-06-24

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share SSKN The NASDAQ
• $1.00 — common stock had been below the minimum $1.00 per share for the previous 30 consecuti
• $1.00 m — s failure to regain compliance with the $1.00 minimum bid price requirement under NASDA

Filing Documents

• ef20017885_8k.htm (8-K) — 32KB
• ef20017885_99-1.htm (EX-99.1) — 9KB
• image0.jpg (GRAPHIC) — 76KB
• 0001140361-24-000342.txt ( ) — 356KB
• sskn-20231227.xsd (EX-101.SCH) — 4KB
• sskn-20231227_lab.xml (EX-101.LAB) — 22KB
• sskn-20231227_pre.xml (EX-101.PRE) — 16KB
• ef20017885_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 reported on a Current Report filing on Form 8K on June 30, 2023, on June 29, 2023, STRATA Skin Sciences, Inc. (the "Company") received written notification (the "Notice") from The NASDAQ Stock Market ("NASDAQ") that the closing bid price of its common stock had been below the minimum $1.00 per share for the previous 30 consecutive business days, and that the Company is therefore not in compliance with the requirements for continued listing on the NASDAQ Capital Market under NASDAQ Listing Rule 5550(a)(2). The Notice provided the Company with an initial period of 180 calendar days, or until December 26, 2023, to regain compliance with the listing rules. On December 27, 2023, the Company received further notification from NASDAQ that the Company had been granted a 180 day extension to June 24, 2024 to regain compliance with the minimum bid price requirement. The Company will regain compliance if the closing bid price of its common stock is $1.00 per share or higher for a minimum period of ten consecutive business days during this compliance period, as confirmed by written notification from NASDAQ. If the Company does not achieve compliance by June 24, 2024, the Company may file an appeal to Nasdaq's Hearing Panel with a plan to resolve the bid price deficiency.. The Company will continue to monitor the closing bid price for its common stock and to assess its options for maintaining the listing of its common stock on the NASDAQ Capital Market in light of the Notice and the grant of the 180 day extension. The Company will consider all available options to regain compliance with the minimum bid requirements, should its closing bid price not have regained compliance during the compliance period.

01

Item 7.01 Regulation FD Disclosure On January 3, 2024 the Company, issued a press release announcing that in connection with the Company's failure to regain compliance with the $1.00 minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2), NASDAQ had granted a 180 day extension to June 24, 2024 to regain compliance with the Listing Rule. A copy of the press release is filed herewith as Exhibit 99.1. The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information. Safe Harbor Statement The information in this filing includes "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to the Company's plans, objectives, expectations and intentions and may contain words such as "will," "may," "seeks," and "expects," that suggest future events or trends. These statements, the Company's ability to generate the growth in its core business, develop and grow an international recurring business model, the Company's ability to develop social media marketing campaigns, and the Company's ability to build a leading franchise in dermatology, are based on the Company's current expectations and are inherently subject to significant uncertainties and changes in circumstances. Actual results

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits 99.1 Strata Skin Sciences Press Release Dated January 3, 2024

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. STRATA SKIN SCIENCES, INC. Dated: January 3, 2024 By: /s/ Christopher Lesovitz Christopher Lesovitz Chief Financial Officer

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View this 8-K filing on SEC EDGAR