Sharps Technology Receives NASDAQ Delisting Notice for Low Bid Price

TL;DR

**STSS got a NASDAQ delisting notice for low stock price; fix it by July 15 or get booted.**

AI Summary

Sharps Technology Inc. (STSS) announced on January 16, 2024, that it received a delisting notice from the NASDAQ Capital Market 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 the company cannot regain compliance by July 15, 2024, its shares could be delisted, making them harder to trade and potentially reducing their value.

Why It Matters

Delisting can severely impact a stock's liquidity and investor confidence, potentially leading to a further decline in share price and making it difficult for shareholders to sell their stock.

Risk Assessment

Risk Level: high — The company faces potential delisting from NASDAQ, which is a severe event that can significantly harm shareholder value and trading liquidity.

Analyst Insight

Investors should closely monitor Sharps Technology Inc.'s actions to regain NASDAQ compliance, as failure to do so by July 15, 2024, could lead to delisting and further devaluation of shares. Consider the potential for a reverse stock split and its implications.

Key Numbers

• $1.00 — Minimum Bid Price (The required minimum bid price per share for continued listing on NASDAQ.)
• 30 — Consecutive Business Days (The period over which Sharps Technology Inc.'s stock traded below the minimum bid price.)
• 001-41355 — Commission File Number (Sharps Technology Inc.'s SEC file number.)

Key Players & Entities

• Sharps Technology Inc. (company) — the registrant receiving the delisting notice
• NASDAQ Capital Market (company) — the exchange from which Sharps Technology Inc. faces delisting
• $1.00 (dollar_amount) — the minimum bid price required by NASDAQ
• January 16, 2024 (date) — the date Sharps Technology Inc. reported the delisting notice
• July 15, 2024 (date) — the deadline for Sharps Technology Inc. to regain compliance

Forward-Looking Statements

• Sharps Technology Inc. will attempt a reverse stock split to regain NASDAQ compliance. (Sharps Technology Inc.) — medium confidence, target: July 15, 2024

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value STSS NASDAQ Capital Mark
• $1.00 — iled to maintain a minimum bid price of $1.00 over the previous 30 consecutive busine
• $1 — e of the Company's security is at least $1 for a minimum of ten (10) consecutive b

Filing Documents

• form8-k.htm (8-K) — 39KB
• 0001493152-24-003069.txt ( ) — 251KB
• stss-20240116.xsd (EX-101.SCH) — 4KB
• stss-20240116_def.xml (EX-101.DEF) — 26KB
• stss-20240116_lab.xml (EX-101.LAB) — 36KB
• stss-20240116_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 5KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 19, 2024 SHARPS TECHNOLOGY, INC. /s/ Andrew Crescenzo Andrew Crescenzo Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR