Cartesian Therapeutics Inc.

04/22/2024 | Press release | Distributed by Public on 04/22/2024 04:26

Material Event - Form 8-K

Item 8.01 Other Events.

On April 19, 2024, Cartesian Therapeutics, Inc. (the "Company") announced that it had received a letter (the "Compliance Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it had regained compliance with the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement").

On January 17, 2024, the Company had received a deficiency letter from Nasdaq notifying the Company that, for the prior 30 consecutive business days, the bid price for the Company's common stock, par value $0.0001 per share (the "Common Stock"), had failed to meet the Bid Price Requirement. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided a period of 180 calendar days, or until July 15, 2024, to regain compliance with the Bid Price Requirement.

The Compliance Letter received by the Company on April 19, 2024 noted that (i) the Company's Common Stock had a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days from April 5, 2024 through April 18, 2024, (ii) the Company has regained compliance with the Bid Price Requirement and (iii) Nasdaq considers the matter closed.