Current Report Filing (8-k)
February 12 2019 - 4:47PM
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
February 6, 2019
Date of Report (Date of earliest event reported)
AEVI GENOMIC MEDICINE, INC.
(Exact name of registrant as specified
in its charter)
Delaware
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1-35112
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98-0217544
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(State
or other jurisdiction of
incorporation or organization)
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(Commission
File Number)
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(I.R.S.
Employer
Identification No.)
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435 Devon Park Drive, Suite 715
Wayne, Pennsylvania 19087
(Address of principal executive offices,
zip code)
(610) 254-4201
(Registrant’s telephone number, including area code)
Not Applicable
(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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¨
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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¨
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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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¨
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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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Indicate by check mark whether
the registrant is an emerging growth company as defined 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
check mark 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.
On February 6, 2019, Aevi Genomic Medicine, Inc. (the “Company”)
received a notification from the NASDAQ Stock Market (“NASDAQ”) indicating that the minimum bid price of the Company’s
common stock has been below $1.00 per share for 30 consecutive business days and as a result, the Company is not in compliance
with the minimum bid price requirement for continued listing. The NASDAQ notice has no immediate effect on the listing or trading
of the Company’s common stock.
Under NASDAQ Listing Rule 5810(c)(3)(A), the Company has a
grace period of 180 calendar days, or until August 5, 2019, in which to regain compliance with the minimum bid price rule. To
regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum
of ten consecutive business days during this grace period.
If the Company does not regain compliance before August 5,
2019, NASDAQ stated that it will provide the Company with written notice that its securities are subject to delisting. At that
time, the Company may appeal NASDAQ’s determination to a NASDAQ Listing Qualifications Panel, which would stay any further
delisting action by NASDAQ pending a final decision by the panel. Alternatively, the Company may be eligible for an additional
grace period if it meets the initial listing standards, with the exception of bid price, for the NASDAQ Capital Market, and the
Company successfully applies for a transfer of its securities to that market. Such a transfer would provide the Company with an
additional 180 calendar day period to regain compliance with the minimum bid requirement.
The Company actively monitors the price of its common stock
and will consider all available options to regain compliance with the continued listing standards of NASDAQ.
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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AEVI GENOMIC MEDICINE, INC.
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By:
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/s/
Michael F. Cola
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Name: Michael F. Cola
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Title: President
and Chief Executive Officer
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Date: February 12, 2019
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