Current Report Filing (8-k)
November 16 2021 - 4:16PM
Edgar (US Regulatory)
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2021-11-16
2021-11-16
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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):
November 16, 2021
InVivo Therapeutics Holdings Corp.
(Exact Name of Registrant as Specified in
Charter)
Nevada
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001-37350
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36-4528166
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(State or Other Jurisdiction
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(Commission File Number)
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(IRS Employer
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of Incorporation)
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Identification No.)
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One Kendall Square, Suite B14402
Cambridge, MA 02139
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code: (617) 863-5500
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 (see General
Instruction A.2. below):
¨
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
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Trading symbol(s)
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Name of each exchange on which
registered
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Common Stock, $0.00001 par value per share
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NVIV
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The 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
As previously disclosed on the Company’s
Current Report on Form 8-K filed with the Securities and Exchange Commission on May 21, 2021, InVivo Therapeutics
Holdings Corp. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”)
of the Nasdaq Stock Market (“Nasdaq”) on May 19, 2021 notifying the Company that, for the previous 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 “Bid Price Rule”). In accordance with
Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company was provided an initial period of
180 calendar days, or until November 15, 2021 (the “Initial Compliance Date”), to regain compliance with the Bid Price
Rule.
The Company did not regain compliance with
the Bid Price Rule by the Initial Compliance Date. On November 16, 2021, in accordance with Nasdaq Listing Rule 5810(c)(2)(B),
the Company was provided an additional 180 calendar day compliance period, or until May 16, 2022 (the “Extended Compliance
Date”), to regain compliance with the Bid Price Rule.
If, at any time before the Extended 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)(G). While the Company
is working toward regaining compliance for continued listing on Nasdaq, there can be no assurance that the Company will be able to demonstrate
compliance by the Extended Compliance Date.
If the Company does not regain compliance
with the Bid Price Rule by the Extended Compliance Date, the Staff will provide written notification to the Company that its common
stock will be subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Nasdaq Hearings
Panel (the “Panel”). The Company expects that its common stock would remain listed pending the Panel’s decision. There
can be no assurance that, if the Company does appeal the delisting determination by the Staff to the Panel, that such appeal would be
successful.
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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INVIVO THERAPEUTICS HOLDINGS CORP.
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Date: November 16, 2021
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By:
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/s/ Richard Toselli
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Richard Toselli
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Chief Executive Officer
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InVivo Therapeutics (NASDAQ:NVIV)
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