Oncology Institute Faces Nasdaq Delisting Concern
Ticker: TOIIW · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1799191
| Field | Detail |
|---|---|
| Company | Oncology Institute, Inc. (TOIIW) |
| Form Type | 8-K |
| Filed Date | Dec 19, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: listing-rule, delisting, compliance
Related Tickers: TOI
TL;DR
TOI might get kicked off Nasdaq - need to watch this.
AI Summary
On December 19, 2024, The Oncology Institute, Inc. filed an 8-K report to address its potential delisting from the Nasdaq Capital Market. The company is facing a continued listing rule violation, though the specific rule and the potential consequences are not detailed in this filing.
Why It Matters
This filing indicates a potential risk to the company's stock exchange listing, which could impact its liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The company is at risk of delisting from a major stock exchange, which could negatively impact its stock price and investor perception.
Key Players & Entities
- The Oncology Institute, Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Stock Exchange
- DFP HEALTHCARE ACQUISITIONS CORP. (company) — Former Company Name
FAQ
What specific Nasdaq continued listing rule is The Oncology Institute, Inc. failing to meet?
The filing does not specify which continued listing rule the company is violating.
What is the exact date of the event triggering this 8-K filing?
The date of the earliest event reported is December 19, 2024.
What is the company's former name?
The company's former name was DFP HEALTHCARE ACQUISITIONS CORP.
In which state was The Oncology Institute, Inc. incorporated?
The Oncology Institute, Inc. was incorporated in Delaware.
What is the company's SEC file number?
The SEC file number for The Oncology Institute, Inc. is 001-39248.
Filing Stats: 1,065 words · 4 min read · ~4 pages · Grade level 14.3 · Accepted 2024-12-19 17:22:27
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 — on Stock") had closed below the minimum $1.00 per share requirement for continued lis
Filing Documents
- toi_8k.htm (8-K) — 31KB
- 0001079973-24-001742.txt ( ) — 249KB
- toi-20241219.xsd (EX-101.SCH) — 4KB
- toi-20241219_def.xml (EX-101.DEF) — 26KB
- toi-20241219_lab.xml (EX-101.LAB) — 36KB
- toi-20241219_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 letter (the "First Nasdaq Bid Price Letter") 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 (the "Common Stock") had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until December 17, 2024, to regain compliance. As of the date of this report the Common Stock has not regained compliance with the Minimum Bid Price Requirement. However, in a letter dated December 19, 2024 (the "Second Nasdaq Bid Price Letter"), Nasdaq notified the Company that Nasdaq's Staff has determined that the Company is eligible for an additional 180 calendar day period, or until June 16, 2025, to regain compliance (the "Second Compliance Period"). The determination is based on the Company's meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the Minimum Bid Price Requirement, and the Company's written notice of its intention to cure the deficiency during the Second Compliance Period by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the end of the Second Compliance Period in order to timely regain compliance. The Second Nasdaq Bid Price Letter has no immediate effect on the listing or trading of the Common Stock. The Company intends to cure the deficien
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) The following exhibits are being filed herewith: 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: December 19, 2024 THE ONCOLOGY INSTITUTE, INC. By: /s/ Mark Hueppelsheuser Mark Hueppelsheuser General Counsel