Current Report Filing (8-k)
February 07 2020 - 4:36PM
Edgar (US Regulatory)
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):
February 7, 2020
SYNTHETIC BIOLOGICS, INC.
(Exact name of registrant as specified in
its charter)
Nevada
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001-12584
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13-3808303
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(State or other jurisdiction of incorporation)
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(Commission File No.)
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(IRS Employer Identification No.)
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9605 Medical Center Drive, Suite 270
Rockville, MD 20850
(Address of principal executive offices
and zip code)
Registrant’s telephone number, including
area code: (301) 417-4364
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:
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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))
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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common stock, par value $0.001 per share
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SYN
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NYSE American
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Indicate by check mark whether the registrant
is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.01 Notice of delisting or Failure to Satisfy a Continued
Listing Rule or Standard: Transfer of Listing.
As previously disclosed, on November 25,
2019, Synthetic Biologics, Inc. (the “Company”) received notification (the “Deficiency Letter”) from the
NYSE American LLC (the “NYSE American”) that it was not in compliance with certain NYSE American continued listing
standards relating to stockholders’ equity as of September 30, 2019. Specifically, the Deficiency Letter stated that the
Company is not in compliance with Section 1003(a)(i) (requiring stockholders’ equity of $2.0 million or more if it has reported
losses from continuing operations and/or net losses in two of its three most recent fiscal years), Section 1003(a)(ii) (requiring
stockholders’ equity of $4.0 million or more if it has reported losses from continuing operations and/or net losses in three
of its four most recent fiscal years), and Section 1003(a)(iii) (requiring stockholders’ equity of $6.0 million or more if
it has reported losses from continuing operations and/or net losses in its five most recent fiscal years). The Deficiency Letter
noted that the Company had a stockholders’ equity of $4,930,000 as of September 30, 2019, and has reported net losses in
its five most recent fiscal years. The Company was required to submit a plan to the NYSE American by December 26, 2019 advising
of actions it has taken or will take to regain compliance with the continued listing standards by November 25, 2020.
On February 7, 2020, the Company received
notice from the NYSE American that it had accepted the Company’s plan and granted a plan period through November 25, 2020.
During the plan period the Company will be subject to periodic review to determine if it is making progress consistent with the
plan. If the Company does not regain compliance with the NYSE American listing standards by November 25, 2020, or if the Company
does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings.
On February 7, 2020, the Company issued a press release disclosing
the receipt of the NYSE American notice accepting its plan, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
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.
Dated: February 7, 2020
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SYNTHETIC BIOLOGICS, INC.
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By:
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/s/ Steven A. Shallcross
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Name: Steven A. Shallcross
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Title: Chief Executive Officer and Chief Financial Officer
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