10/03/2023 | Press release | Distributed by Public on 10/03/2023 15:25
Item 8.01. Other Events.
Nasdaq Extension of Compliance Period for Nasdaq Listing Rule 5550(b)(1)
On September 27, 2023, The Nasdaq Stock Market LLC's ("Nasdaq") Hearings Panel ("Panel") agreed to extend the exception granted on July 26, 2023 (the "Decision") to INVO Bioscience, Inc. (the "Company") for the Company to demonstrate compliance with Nasdaq Listing Rule 5550(b)(1) (the "Equity Rule") from September 29, 2023 until November 20, 2023. No additional extensions for compliance under the Equity Rule may be granted by the Panel.
2023 Annual Meeting of Shareholders
On October 2, 2023, the board of directors (the "Board") of INVO Bioscience, Inc. (the "Company") set November 16, 2023 as the date for the Company's 2023 annual meeting of shareholders (the "2023 Annual Meeting"). This date is more than 30 days after the one-year anniversary of the Company's 2022 annual meeting of shareholders, which was held on October 12, 2022. In light of the foregoing, and in accordance with the Company's Bylaws, in order for any business to be brought before the 2023 Annual Meeting by a shareholder, such shareholder must notify the Company of such intention by notice received at the Company's principal executive office no later than the close of business on October 13, 2023.
Shareholder proposals intended for inclusion in the Company's proxy statement for the 2023 Annual Meeting pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), must be received at the Company's principal executive office no later than the close of business on October 13, 2023, which the Company believes is a reasonable time before it begins to print and mail proxy materials for the 2023 Annual Meeting. In addition, all such shareholder notices and shareholder proposals must conform to the applicable requirements of the Bylaws, the rules and regulations promulgated under the Exchange Act and other applicable law. All such notices and shareholder proposals should be directed to: "INVO Bioscience, Inc., 5582 Broadcast Court, Sarasota, FL 342401, Attention: Corporate Secretary."