Veru Inc. Faces Nasdaq Delisting Warning
Ticker: VERU · Form: 8-K · Filed: Aug 30, 2024 · CIK: 863894
Sentiment: bearish
Topics: listing-rule-violation, delisting-risk, compliance
Related Tickers: VERU
TL;DR
Nasdaq says Veru's stock price is too low, giving them until Feb 2025 to fix it or get booted.
AI Summary
Veru Inc. announced on August 29, 2024, that it received a notification from Nasdaq regarding its failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company has 180 calendar days, until February 26, 2025, to regain compliance by achieving a minimum closing bid price of $1.00 per share for at least 10 consecutive business days.
Why It Matters
Failure to regain compliance could result in Veru Inc.'s common stock being delisted from the Nasdaq Capital Market, potentially impacting its liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk because it has failed to meet a critical listing requirement and faces delisting if it cannot rectify the situation within the specified timeframe.
Key Numbers
- 180 — Days to regain compliance (Company has 180 days to meet Nasdaq's minimum bid price requirement.)
- $1.00 — Minimum bid price (The stock must close at or above this price for 10 consecutive business days to regain compliance.)
Key Players & Entities
- Veru Inc. (company) — Registrant
- Nasdaq (company) — Stock Exchange
- August 29, 2024 (date) — Notification Date
- February 26, 2025 (date) — Compliance Deadline
- $1.00 (dollar_amount) — Minimum Bid Price Requirement
FAQ
What is the specific reason Veru Inc. received a notification from Nasdaq?
Veru Inc. received a notification from Nasdaq because it failed to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
What is the deadline for Veru Inc. to regain compliance with Nasdaq's listing rules?
Veru Inc. has until February 26, 2025, to regain compliance.
What is the minimum closing bid price Veru Inc. needs to achieve?
Veru Inc. needs to achieve a minimum closing bid price of $1.00 per share.
For how many consecutive business days must the minimum bid price be met?
The minimum bid price of $1.00 must be met for at least 10 consecutive business days.
What happens if Veru Inc. does not regain compliance by the deadline?
If Veru Inc. does not regain compliance by February 26, 2025, its common stock may be delisted from the Nasdaq Capital Market.
Filing Stats: 723 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2024-08-30 16:08:54
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share VERU NASDAQ Cap
- $1.00 — maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listi
Filing Documents
- d888292d8k.htm (8-K) — 23KB
- 0001193125-24-211075.txt ( ) — 142KB
- veru-20240829.xsd (EX-101.SCH) — 3KB
- veru-20240829_lab.xml (EX-101.LAB) — 18KB
- veru-20240829_pre.xml (EX-101.PRE) — 11KB
- d888292d8k_htm.xml (XML) — 4KB
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 VERU INC. By: /s/ Michele Greco Michele Greco Chief Financial Officer and Chief Administrative Officer 3