Current Report Filing (8-k)
April 21 2020 - 5:18PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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): April 17, 2020
KOPIN
CORPORATION
(Exact
Name of Registrant as Specified in Charter)
Delaware
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000-19882
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04-2833935
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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125
North Drive, Westborough, MA 01581
(Address
of Principal Executive Offices) (Zip Code)
(508)
870-5959
(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 (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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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
Stock, par value $0.01
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KOPN
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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.
As
previously disclosed on our Current Report on Form 8-K filed on April 8, 2020, on April 7, 2020, Kopin Corporation (“Kopin”
or the “Company”) received a notice from the Nasdaq Stock Market (“Nasdaq”) that the period for the Company
to achieve compliance with the minimum bid price of $1.00 had been extended until October 5, 2020. On April 17, 2020, the Company
received a notice from Nasdaq indicating that, due to extraordinary market conditions, Nasdaq has determined to toll compliance
periods for bid price and market value through June 30, 2020. Nasdaq’s notice indicates that, upon expiration of the tolling
period and beginning on July 1, 2020, Kopin will receive the balance of days remaining under its currently pending compliance.
Accordingly, upon expiration of the tolling period and beginning on July 1, 2020, Kopin will then have 171 calendar days from
July 1, 2020, or until December 18, 2020, to regain compliance with the minimum bid price requirement.
To
regain compliance, the minimum bid price of Kopin’s common stock must meet or exceed $1.00 per share for a minimum 10 consecutive
business days during either the tolling period or during the 172 calendar days following the tolling period, unless the staff
of the Nasdaq exercises its discretion to extend this 10 business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(F). The
Company’s failure to regain compliance by December 18, 2020 period could result in delisting.
Kopin
is continuing to evaluate various courses of action to regain compliance. There can be no assurance that Kopin will be able to
regain compliance with Nasdaq’s rule or will otherwise be in compliance with other Nasdaq listing criteria.
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.
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KOPIN
CORPORATION
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Dated:
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April
21, 2020
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/s/
Richard A. Sneider
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Richard
A. Sneider
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Treasurer
and Chief Financial Officer
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(Principal
Financial and Accounting Officer)
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