vTv Therapeutics Inc.
12/19/2023 | Press release | Distributed by Public on 12/19/2023 15:28
Failure to Satisfy Listing Rule - Form 8-K
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On December 13, 2023, vTv Therapeutics Inc. (the "Company") received a letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the requirement of Nasdaq Listing Rule 5550(b)(2) because the Company's listed securities have been below the required market value of listed securities (MVLS) of $35 million for the last 30 consecutive business days.
In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until June 10, 2024, to regain compliance with Nasdaq Listing Rule 5550(b)(2). Compliance can be achieved without further action by the Company if the Company's MVLS closes at $35 million or more for a minimum of 10 consecutive business days at any time during the 180-day compliance period. If the Company does not regain compliance during such period, subject to an appeals process, the Company's Class A Common Stock will be subject to delisting and may be removed from The Nasdaq Capital Market.
The Company intends to actively monitor the MVLS and is currently evaluating its available options to regain compliance with Nasdaq Listing Rule 5550(b)(2). There can be no assurance that the Company will regain compliance with the minimum MVLS or maintain compliance with any of the other Nasdaq continued listing requirements.