Oncology Institute Faces Delisting Concerns
Ticker: TOIIW · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1799191
| Field | Detail |
|---|---|
| Company | Oncology Institute, Inc. (TOIIW) |
| Form Type | 8-K |
| Filed Date | Jun 21, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, listing-standards
TL;DR
TOI might get delisted, check their compliance status.
AI Summary
On June 20, 2024, The Oncology Institute, Inc. filed an 8-K report indicating a potential delisting or failure to meet continued listing standards. The company was formerly known as DFP Healthcare Acquisitions Corp. and changed its name on January 8, 2020.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being removed from trading.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant red flag for investors.
Key Players & Entities
- The Oncology Institute, Inc. (company) — Registrant
- DFP Healthcare Acquisitions Corp. (company) — Former company name
- 20200108 (date) — Date of name change
- 20240620 (date) — Date of earliest event reported
FAQ
What specific listing rule or standard has The Oncology Institute, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard'.
What is the potential consequence of failing to meet listing standards?
The consequence is a potential delisting of the company's securities from the exchange.
When was the company formerly known as DFP Healthcare Acquisitions Corp.?
The company changed its name from DFP Healthcare Acquisitions Corp. on January 8, 2020.
What is the exact date of the report filing?
The report was filed on June 21, 2024.
What is the company's primary business as indicated by its SIC code?
The company's Standard Industrial Classification (SIC) code is 8011, which corresponds to SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE.
Filing Stats: 1,059 words · 4 min read · ~4 pages · Grade level 14.2 · Accepted 2024-06-21 16:30:10
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 TOI The Nasdaq Stock Market LLC R
- $11.50 — mon Stock, each at an exercise price of $11.50 per share TOIIW The Nasdaq Stock Ma
- $1.00 — e Company's Common Stock has been below $1.00 per share for 30 consecutive business d
Filing Documents
- toi_8k.htm (8-K) — 30KB
- 0001079973-24-000949.txt ( ) — 249KB
- toi-20240620.xsd (EX-101.SCH) — 4KB
- toi-20240620_def.xml (EX-101.DEF) — 26KB
- toi-20240620_lab.xml (EX-101.LAB) — 36KB
- toi-20240620_pre.xml (EX-101.PRE) — 25KB
- toi_8k_htm.xml (XML) — 6KB
01
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 20, 2024, The Oncology Institute, Inc. (the "Company") received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is no longer in compliance with Nasdaq Listing Rule 5550(a)(2), because the minimum bid price of the Company's Common Stock has been below $1.00 per share for 30 consecutive business days (the "Notice"). The Notice has no immediate effect on the listing or trading of the Company's Common Stock or Warrants on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until December 17, 2024 (the "Compliance Date"), to regain compliance with the minimum bid price requirement. If at any time before the Compliance Date the bid price for the Common Stock closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide written notification to the Company that it has regained compliance with the minimum bid price requirement. In the event the Company does not regain compliance with the minimum bid price requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required, among other things, to meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and would also need to provide written notice to Nasdaq of its intention to cure the bid price deficiency during the additional compliance period. If the Company fails to regain compliance during the compliance period (including a second compliance period, if applicable), then Nasdaq will notify the Company of its determination to delist its Common Stock and Warrants, at which point the Company may appeal Nasdaq's del
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit Description 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 21, 2024 THE ONCOLOGY INSTITUTE, INC. By: /s/ Mihir Shah Mihir Shah Chief Financial Officer