Tivic Health Faces Nasdaq Delisting Risk
Ticker: TIVC · Form: 8-K · Filed: Jan 3, 2025 · CIK: 1787740
Sentiment: bearish
Topics: delisting-risk, nasdaq, compliance
Related Tickers: TIVC
TL;DR
Nasdaq warning: Tivic Health's stock price is too low, needs to hit $1.00 for 10 days by June 24 or get booted.
AI Summary
Tivic Health Systems, Inc. received a notice on December 27, 2024, indicating it failed to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company has 180 calendar days, until June 24, 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 meet the minimum bid price could lead to Tivic Health's stock being delisted from the Nasdaq, significantly impacting its liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from the Nasdaq Capital Market due to failing to meet the minimum bid price requirement.
Key Numbers
- $1.00 — Minimum Bid Price (Required for Nasdaq continued listing)
- 10 — Consecutive Business Days (Duration for minimum bid price compliance)
- 180 — Compliance Period (Days to regain compliance)
Key Players & Entities
- Tivic Health Systems, Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Listing Exchange
- December 27, 2024 (date) — Notice Date
- June 24, 2025 (date) — Compliance Deadline
- $1.00 (dollar_amount) — Minimum Bid Price Requirement
FAQ
What specific rule did Tivic Health Systems, Inc. fail to meet?
Tivic Health Systems, Inc. failed to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
When did Tivic Health Systems, Inc. receive the notice of non-compliance?
The notice was received on December 27, 2024.
What is the minimum closing bid price Tivic Health must achieve?
Tivic Health must achieve a minimum closing bid price of $1.00 per share.
For how long must the minimum bid price be maintained to regain compliance?
The minimum closing bid price of $1.00 must be maintained for at least 10 consecutive business days.
What is the deadline for Tivic Health to regain compliance with the Nasdaq listing rule?
The company has until June 24, 2025, to regain compliance.
Filing Stats: 817 words · 3 min read · ~3 pages · Grade level 15 · Accepted 2025-01-03 16:05:11
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share TIVC The Nasdaq Stock Mar
- $1.00 — or the Company's common stock was below $1.00 per share for 33 consecutive business d
- $4,000,000 — y, the Company does not comply with the $4,000,000/$5,000,000 minimum stockholders' equity
- $5,000,000 m — any does not comply with the $4,000,000/$5,000,000 minimum stockholders' equity initial list
Filing Documents
- tivc-20241227.htm (8-K) — 40KB
- 0000950170-25-001140.txt ( ) — 152KB
- tivc-20241227.xsd (EX-101.SCH) — 24KB
- tivc-20241227_htm.xml (XML) — 5KB
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. As previously disclosed, on June 28, 2024, Tivic Health Systems, Inc. (the "Company") received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the closing bid price for the Company's common stock was below $1.00 per share for 33 consecutive business days, the Company was not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until December 26, 2024, to regain compliance with the Rule. On December 27, 2024, the Company received an additional letter from Nasdaq, notifying the Company that it has not regained compliance with the Rule and is not eligible for a second 180-day remediation period. Specifically, the Company does not comply with the $4,000,000/$5,000,000 minimum stockholders' equity initial listing requirement for Nasdaq. Accordingly, unless the Company timely requests a hearing before a Hearings Panel (the "Panel"), the Company's securities would be subject to suspension/delisting. On January 3, 2025, the Company timely submitted a request for a hearing before the Panel. The hearing request will automatically stay any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing. Additionally, on January 31, 2025, the Company will hold a special meeting of stockholders at which the Company will propose the adoption and approval of an amendment to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the shares of the Company's common stock at a specific ratio, ranging from one-for-two
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. TIVIC HEALTH SYSTEMS, INC. Date: January 3, 2025 By: /s/ Jennifer Ernst Name: Jennifer Ernst Title: Chief Executive Officer