Current Report Filing (8-k)
July 26 2019 - 4:08PM
Edgar (US Regulatory)
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):July
26, 2019 (July 22, 2019)
MICT,
INC.
(Exact name of registrant as specified
in its charter)
DELAWARE
|
001-35850
|
27-0016420
|
(State or other jurisdiction
|
(Commission
|
(IRS Employer
|
of incorporation)
|
File Number)
|
Identification No.)
|
28 West Grand Avenue, Suite 3, Montvale, New Jersey
|
07645
|
(Address of principal executive offices)
|
(Zip Code)
|
(201) 225-0190
(Registrant’s telephone number, including
area code)
(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
|
|
Trading Symbol(s)
|
|
Name of each exchange on
which registered
|
Common Stock, par value $0.001 per share
|
|
MICT
|
|
The Nasdaq Capital Market
|
Indicate by check mark whether the registrant
is an emerging growth company as defined in 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 July 22, 2019, MICT,
Inc., or the Company, received a written notice from the Nasdaq Stock Market LLC, or Nasdaq, indicating that the Company was not
in compliance with Nasdaq Listing Rule 5550(a)(2), as the Company’s closing bid price for its common stock was below $1.00
per share for the last 30 consecutive business days.
Pursuant to Nasdaq Listing
Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until January 20, 2020, to regain compliance
with the minimum bid price requirement. During the compliance period, the Company’s common stock will continue to be listed
and traded on the Nasdaq Stock Market. If the Company chooses to implement a reverse stock split, it must complete the split no
later than ten business days prior to the expiration date, January 20, 2020, in order to regain compliance. To regain compliance,
the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least 10 consecutive business
days during the 180-calendar day compliance period.
If the Company is not in
compliance by January 20, 2020, the Company may be afforded a second 180-calendar day compliance period. To qualify for this 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 Nasdaq with the exception of the minimum 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.
If the Company does not
regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will
provide notice that the Company’s common stock will be subject to delisting.
The Company intends to
monitor the closing bid price of its common stock between now and January 20, 2020 and will consider available options to resolve
the Company’s noncompliance with the minimum bid price requirement as may be necessary. There can be no assurance that the
Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other
Nasdaq listing criteria.
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.
|
MICT, INC.
|
|
|
|
|
|
Dated: July 26, 2019
|
By:
|
/s/ David Lucatz
|
|
|
|
Name: David Lucatz
|
|
|
|
Title: President and Chief Executive Officer
|
|
MICT (NASDAQ:MICT)
Historical Stock Chart
From Aug 2024 to Sep 2024
MICT (NASDAQ:MICT)
Historical Stock Chart
From Sep 2023 to Sep 2024