Current Report Filing (8-k)
August 16 2021 - 4:34PM
Edgar (US Regulatory)
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2021-08-13
2021-08-13
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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): August 13, 2021
POLARITYTE,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
001-32404
|
|
06-1529524
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
1960
S. 4250 West, Salt Lake City, UT 84104
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: (800) 560-3983
|
(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
|
|
Name
of each exchange on which registered
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Common
Stock, Par Value $0.001
|
|
PTE
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|
Nasdaq
Capital Market
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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
August 13, 2021, PolarityTE, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department
(the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the preceding 30 consecutive
business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued
inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company has been provided an initial
period of 180 calendar days to regain compliance with the Minimum Bid Price Requirement, which ends February 9, 2022 (the “Compliance
Date”). If, at any time before the Compliance Date, the bid price for the Company’s common stock closes at $1.00 or more
for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification
to the Company that it complies with the Bid Price Rule, unless the Staff exercises its discretion to extend this 10-day period pursuant
to Nasdaq Listing Rule 5810(c)(3)(H).
The
Notice also provides that, if the Company does not regain compliance with the Minimum Bid Price Requirement by February 9, 2022, it may
be eligible for additional time to regain compliance. 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 Minimum Bid Price Requirement, and provide written notice of its intention to cure the minimum bid price deficiency
during the second compliance period, by effecting a reverse split, if necessary. If the Company meets these requirements, it will be
granted an additional compliance period of 180 calendar days to regain compliance with the Minimum Bid Price Requirement. If the Nasdaq
staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional
compliance period, Nasdaq will provide notice that the Company’s Common Stock will be subject to delisting.
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.
|
POLARITYTE,
INC.
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|
|
Dated:
August 16, 2021
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/s/
Jacob Patterson
|
|
Jacob
Patterson
|
|
Interim
Chief Financial Officer
|
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