Form 8-K - Current report
October 20 2023 - 6:04AM
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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): October 18, 2023
JASPER THERAPEUTICS, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-39138 |
|
84-2984849 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification
No.) |
2200 Bridge Pkwy Suite #102
Redwood City, CA |
|
94065 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(650)
549-1400
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)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Voting Common Stock, par value $0.0001 per share |
|
JSPR |
|
The
Nasdaq Stock Market LLC |
Redeemable Warrants, each whole warrant exercisable for one share of Voting Common Stock at an exercise price of $11.50 |
|
JSPRW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
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
October 18, 2023, Jasper Therapeutics, Inc. (the “Company”) received written notice (the “Notice”) from The Nasdaq
Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days, the bid price for the Company’s
voting common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market under
Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A)(ii), the Company
has been provided an initial period of 180 calendar days, or until April 15, 2024, to regain compliance. The Notice states that the Nasdaq
staff will provide written confirmation that the Company has achieved compliance with Rule 5550(a)(2) if at any time before April 15,
2024, the bid price of the Company’s voting common stock closes at $1.00 per share or more for a minimum of ten consecutive business
days. The Notice has no immediate effect on the listing or trading of the Company’s voting common stock or the Company’s
public warrants, and the voting common stock and public warrants will continue to trade on the Nasdaq Capital Market under the symbols
“JSPR” and “JSPRW”, respectively.
If
the Company does not regain compliance with Rule 5550(a)(2) by April 15, 2024, the Company may be eligible for an additional 180 calendar
day compliance period. To qualify, the Company would 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
would need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting
a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency,
or if the Company is otherwise not eligible, Nasdaq would notify the Company that its securities will be subject to delisting. In the
event of such a notification, the Company may appeal the Nasdaq staff’s determination to delist its securities, but there can be
no assurance the Nasdaq staff would grant any request for continued listing.
The
Company intends to monitor the bid price of its voting common stock and consider available options if its voting common stock does not
trade at a level likely to result in the Company regaining compliance with Nasdaq’s minimum bid price rule by April 15, 2024, which
may include, among other options, effectuating a reverse stock split. There can be no assurance that the Company will be able to regain
compliance with Nasdaq’s minimum bid price rule or that the Company will otherwise be in compliance with the other listing standards
for the Nasdaq Capital Market.
Forward-Looking
Statements
Except
for the factual statements made herein, information contained in this Current Report on Form 8-K consists of forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are
difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects or future events,
as well as words such as “believes,” “intends,” “expects,” “plans” and similar expressions,
or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.
Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained
in such statements. For example, there can be no assurance that the Company will meet the bid price requirement during any compliance
period or otherwise in the future, otherwise meet Nasdaq compliance standards, or that Nasdaq will grant the Company any relief from
delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief. Reference
is also made to other factors detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange
Commission, including the Company’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The
forward-looking statements contained in this Current Report on Form 8-K speak only as of the date of this Current Report on Form 8-K
and the Company assumes no obligation to publicly update any forward-looking statements to reflect changes in information, events or
circumstances after the date of this Current Report on Form 8-K, unless required by law.
SIGNATURE
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.
|
JASPER
THERAPEUTICS, INC. |
|
|
|
Date: October
20, 2023 |
By: |
/s/
Herb Cross |
|
|
Name: |
Herb Cross |
|
|
Title:
|
Chief
Financial Officer |
2
v3.23.3
Cover
|
Oct. 18, 2023 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Oct. 18, 2023
|
Entity File Number |
001-39138
|
Entity Registrant Name |
JASPER THERAPEUTICS, INC.
|
Entity Central Index Key |
0001788028
|
Entity Tax Identification Number |
84-2984849
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
2200 Bridge Pkwy Suite #102
|
Entity Address, City or Town |
Redwood City
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94065
|
City Area Code |
650
|
Local Phone Number |
549-1400
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Voting Common Stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Voting Common Stock, par value $0.0001 per share
|
Trading Symbol |
JSPR
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants, each whole warrant exercisable for one share of Voting Common Stock at an exercise price of $11.50 |
|
Title of 12(b) Security |
Redeemable Warrants, each whole warrant exercisable for one share of Voting Common Stock at an exercise price of $11.50
|
Trading Symbol |
JSPRW
|
Security Exchange Name |
NASDAQ
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