Current Report Filing (8-k)
November 28 2016 - 1:00PM
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)
November
23, 2016
Digital Turbine, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
Delaware
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001-35958
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22-2267658
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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1300 Guadalupe Street Suite # 302, Austin TX
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78701
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(Address of Principal Executive Offices)
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(Zip Code)
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(512) 387-7717
(Registrant’s 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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o
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Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
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o
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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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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On November 23, 2016, Digital Turbine, Inc. (the "Company")
received a letter from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that the minimum
bid price per share for its common stock fell below $1.00 for a period of 30 consecutive business days and that therefore the Company
did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).
The letter also states that the Company will be provided 180
calendar days, or until May 22, 2017, to regain compliance with the minimum bid price requirement. In accordance with Rule 5810(c)(3)(A),
the Company can regain compliance if at any time during the 180-day period the closing bid price of the Company's common stock
is at least $1.00 for a minimum of 10 consecutive business days. If by May 22, 2017, the Company cannot demonstrate compliance
with the Rule 5550(a)(2), it may be eligible for additional time. To qualify for additional time, the Company will be required
to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention
to cure the deficiency during the second compliance period. If the Company is not eligible for the second compliance period, then
the Nasdaq Staff will provide notice that the Company's securities will be subject to delisting. At such time, the Company may
appeal the delisting determination to a Hearings Panel.
We intend to monitor the closing bid price of our common stock
and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement.
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 thereunto duly authorized.
Dated: November 28, 2016
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Digital Turbine, Inc.
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By:
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/s/ William G. Stone
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William G. Stone
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Chief Executive Officer
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