04/16/2024 | Press release | Distributed by Public on 04/16/2024 06:01
Item 8.01 | Other Events. |
As disclosed in the Company's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on April 15, 2024, on April 11, 2024, the Company closed an at market private placement of common stock and common stock warrants for gross proceeds of $11.1 million. As a result of the financing, the Company believes that, as of the date of this Current Report, the Company has regained compliance with the Equity Requirement.
The Company has communicated with the Staff regarding its status and is awaiting Nasdaq's confirmation that the Company has regained compliance with the Equity Requirement. In such event, Nasdaq will continue to monitor the Company's ongoing compliance with the Equity Requirement in the normal course and, if at the time of its next periodic report the Company does not evidence compliance, the Company may again be subject to delisting