Report of Foreign Issuer (6-k)
April 23 2020 - 4:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For
the month of April, 2020
Commission
File Number: 001-36582
Auris
Medical Holding Ltd.
(Exact
name of registrant as specified in its charter)
Clarendon
House, 2 Church Street
Hamilton
HM 11, Bermuda
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form
20-F ☒ Form 40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ☐ No ☒
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ☐ No ☒
Notice
of Failure to Satisfy a Continued Listing Rule or Standard
Auris
Medical Holding Ltd. (NASDAQ: EARS, the “Company”) today announced that on April 21, 2020, the Company received a
letter from the Listings Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company
that the minimum bid price per share for its common shares was below $1.00 for a period of 30 consecutive business days and that
the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). The Nasdaq notification
letter does not result in the immediate delisting of the Company’s common shares, and the shares will continue to trade
uninterrupted under the symbol “EARS.”
Given
extraordinary market conditions, Nasdaq has determined to toll the compliance periods for the bid price and market value of publicly
held shares through June 30, 2020. In addition, the Company has a compliance period of 180 calendar days (the “Compliance
Period”), commencing on July 1, 2020 and ending on December 28, 2020, to regain compliance with Nasdaq’s minimum bid
price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's common stock
is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide Auris Medical a written confirmation of compliance
and the matter will be closed.
In
the event Auris Medical does not regain compliance by December 28, 2020, the Company may be eligible for an additional 180 days.
To qualify, 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 bid price requirement, and will need
to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse
stock split, if necessary.
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, thereunto duly authorized.
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Auris
Medical Holding AG
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By:
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/s/
Thomas Meyer
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Name:
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Thomas
Meyer
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Title:
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Chief
Executive Officer
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Date:
April 23, 2020
2
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