Current Report Filing (8-k)
March 17 2017 - 5:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): March 15,
2017
Tenax Therapeutics, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-34600
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26-2593535
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(State
or other jurisdiction of incorporation)
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(CommissionFile
Number)
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(IRS
EmployerIdentification No.)
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ONE Copley Parkway, Suite 490
Morrisville, NC 27560
(Address
of principal executive offices) (Zip Code)
919-855-2100
(Registrant’s
telephone number, including area code)
N/A
(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:
☐
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐
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
March 15, 2017, Tenax Therapeutics, Inc. (the
“Company”) received a notification letter from the
Listing Qualifications Department of The Nasdaq Stock Market LLC
(“Nasdaq”) indicating that, for the last 30 consecutive
business days, the bid price for the Company’s common stock
has closed below the minimum $1.00 per share requirement for
continued listing on The Nasdaq Capital Market under Marketplace
Rule 5550(a)(2).
Per
Nasdaq’s notification letter, the Company has 180 calendar
days, or until September 11, 2017, to regain compliance with the
minimum $1.00 price per share requirement. To regain compliance,
anytime before September 11, 2017, the bid price of the
Company’s common stock must close at $1.00 per share or more
for a minimum of 10 consecutive business days. Nasdaq’s
notification letter has no effect on the listing of the
Company’s common stock at this time.
On
September 11, 2017, if the Company meets The Nasdaq Capital Market
initial listing criteria set forth in Marketplace Rule 5505, except
for the minimum bid price requirement, it may be provided with an
additional 180 calendar day compliance period to demonstrate
compliance. If the Company is not eligible for an additional
compliance period at that time, Nasdaq will provide the Company
with written notification that its common stock will be subject to
delisting. Upon such notice, the Company may appeal the Nasdaq
Staff’s determination to a Nasdaq Hearings Panel, pursuant to
the procedures set forth in the applicable Nasdaq Marketplace
Rules. There can be no assurance that, if the Company appeals the
Nasdaq Staff’s determination, such appeal would be
successful.
The
Company is currently evaluating its alternatives to resolve this
listing deficiency.
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.
Date: March
17,
2017
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Tenax Therapeutics, Inc.
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By: /s/
John Kelley
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John
Kelley
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Chief
Executive Officer
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