Current Report Filing (8-k)
February 05 2016 - 5:17PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 2, 2016
STEREOTAXIS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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001-36159 |
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94-3120386 |
(Commission
File Number) |
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(IRS Employer
Identification No.) |
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4320 Forest Park Avenue, Suite 100, St. Louis, Missouri |
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63108 |
(Address of Principal Executive Offices) |
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(Zip Code) |
(314) 678-6100
(Registrants Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On February 2, 2016, Stereotaxis, Inc. (the Company) received a determination letter from the Listing Qualifications Staff
(the Staff) of The NASDAQ Stock Market LLC (Nasdaq) notifying the Company that it has not regained compliance with Listing Rule 5550(b)(2), the Market Value of Listed Securities (MVLS) Rule (the Rule),
and as a result, the Companys securities would be subject to delisting from Nasdaq unless the Company requests a hearing before the Nasdaq Listing Qualifications Panel (the Panel). As previously disclosed, in its Form 10-Q filed on
August 7, 2015, the Company received notification from the Staff on August 5, 2015, that the Company did not comply with the Rule because the Company did not maintain a minimum MVLS of $35 million for the 30 consecutive business days prior
to the date of the letter. The Company was provided 180 calendar days, or until February 1, 2016, to regain compliance with the Rule.
The Company intends to timely request a hearing before the Panel, at which it will present its plan to achieve compliance with the continued
listing requirements for The Nasdaq Capital Market. The hearing request will automatically stay the delisting of the Companys securities pending the issuance of the Panels decision following the hearing and the expiration of any
extension period granted by the Panel. Under the Nasdaq Listing Rules, the Panel may, in its discretion, determine to continue the Companys listing pursuant to an exception for a maximum of 180 calendar days from the date of the Staffs
determination letter, or through July 31, 2016. While the Company is diligently working to achieve compliance with the continued listing requirements for The Nasdaq Capital Market, there can be no assurance that the Panel will grant the Company
an extension of time to achieve compliance with the applicable listing requirements.
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.
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STEREOTAXIS, INC. |
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Date: February 5, 2016 |
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By: |
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/s/ Karen Witte Duros |
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Name: |
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Karen Witte Duros |
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Title: |
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Sr. Vice President, General Counsel |