Carmell Corp Faces Delisting Notice
Ticker: XAGEW · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1842939
| Field | Detail |
|---|---|
| Company | Carmell Corp (XAGEW) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $35 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, corporate-actions
TL;DR
Carmell Corp got a delisting notice - stock might be in trouble.
AI Summary
Carmell Corporation filed an 8-K on August 30, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The company, formerly known as Carmell Therapeutics Corp and Alpha Healthcare Acquisition Corp III, is incorporated in Delaware and headquartered in Pittsburgh, PA.
Why It Matters
This filing indicates potential issues with Carmell Corporation's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress for the company.
Key Numbers
- 001-40228 — Commission File Number (Carmell Corporation's SEC file number)
- 86-1645738 — IRS Employer Identification No. (Carmell Corporation's IRS number)
Key Players & Entities
- Carmell Corporation (company) — Registrant
- August 30, 2024 (date) — Date of Report
- Carmell Therapeutics Corp (company) — Former Company Name
- Alpha Healthcare Acquisition Corp III (company) — Former Company Name
- Delaware (jurisdiction) — State of Incorporation
- Pittsburgh, PA (location) — Business Address City and State
FAQ
What specific listing rule or standard has Carmell Corporation failed to satisfy?
The filing states a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
What is the reason for the transfer of listing mentioned in the filing?
The filing indicates a 'Transfer of Listing' as an item of information, but the specific reasons for this transfer are not detailed in the provided text.
When did Carmell Corporation change its name from Carmell Therapeutics Corp?
The date of the name change from Carmell Therapeutics Corp was July 27, 2023.
What was Carmell Corporation's former name before Carmell Therapeutics Corp?
Before being known as Carmell Therapeutics Corp, the company was formerly named ALPHA HEALTHCARE ACQUISITION CORP III.
What is Carmell Corporation's primary business classification?
Carmell Corporation's Standard Industrial Classification is 'SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]'.
Filing Stats: 682 words · 3 min read · ~2 pages · Grade level 14.5 · Accepted 2024-08-30 16:30:14
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CTCX The Nasdaq Stock Mar
- $11.50 — of Common Stock at an exercise price of $11.50 CTCXW The Nasdaq Stock Market LLC
- $35 million — he "MVLS") falling below the minimum of $35 million required for continued listing on The N
Filing Documents
- ctcx-20240830.htm (8-K) — 40KB
- 0000950170-24-102375.txt ( ) — 191KB
- ctcx-20240830.xsd (EX-101.SCH) — 48KB
- ctcx-20240830_htm.xml (XML) — 7KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 30, 2024, Carmell Corporation, a Delaware corporation (the "Company"), received a letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5550(b)(2) as a result of the Company's Market Value of Listed Securities (the "MVLS") falling below the minimum of $35 million required for continued listing on The Nasdaq Capital Market (the "MVLS Requirement") from July 15, 2024 to August 29, 2024. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until February 26, 2025 (the "Compliance Date"), to regain compliance with the MVLS Requirement. To regain compliance during the 180-day period, the Company's MVLS must be at least $35 million for a minimum of ten consecutive business days at any time during this period, after which Nasdaq will provide written confirmation of compliance to the Company and the matter will be closed. If the Company does not regain compliance with the MVLS Requirement by the Compliance Date, or qualify under an alternative listing standard, the Company will receive written notification from Nasdaq that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination to a Nasdaq hearings panel. The Notice has no immediate effect on the listing of the Company's common stock or redeemable warrants, which will continue to trade on The Nasdaq Capital Market under the symbols "CTCX" and "CTCXW", respectively, subject to the Company's compliance with the other continued listing requirements of The Nasdaq Capital Market. The Company is considering available options to regain compliance with the MVLS Requirement. However, there can be no assurance that the Company will be able to regain compliance with t
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. Date: August 30, 2024 By: /s/ Bryan J. Cassaday Bryan J. Cassaday Chief Financial Officer