Form 8-K - Current report
October 06 2023 - 5:10PM
Edgar (US Regulatory)
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2023-10-03
2023-10-03
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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)
October 3, 2023
Ondas Holdings Inc.
(Exact name of registrant as specified in its charter)
Nevada |
|
001-39761 |
|
47-2615102 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
411 Waverley Oaks Road, Suite 114, Waltham,
MA 02452
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code (888) 350-9994
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:
| ☐ | 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 |
Common Stock par value $0.0001 |
|
ONDS |
|
The Nasdaq Stock Market LLC,
Tel Aviv Stock Exchange |
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 checkmark
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 October 3, 2023, Ondas Holdings Inc. (the “Company”)
received a letter (the “Nasdaq Staff Deficiency Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating
that, for the last thirty (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 listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Minimum
Bid Price Requirement”).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A),
the Company has been provided an initial period of 180 calendar days, or until April 1, 2024, to regain compliance. The Nasdaq Staff Deficiency
Letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if
at any time before April 1, 2024 (the “Compliance Period”), the bid price of the Company’s common stock closes at $1.00
per share or more for a minimum of ten (10) consecutive business days. The Nasdaq Staff Deficiency Letter has no immediate effect on the
listing or trading of the Company’s common stock.
The Company intends to continue actively monitoring
the bid price for its shares of common stock between now and the expiration of the Compliance Period and will consider all available options
to resolve the deficiency with every intention to regain compliance with the Minimum Bid Price Requirement.
If the Company does not regain compliance with Rule
5550(a)(2) within the Compliance Period, the Company may be eligible for an additional 180 calendar day compliance period. To qualify,
the Company would 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 bid price requirement, and would need to provide written notice of its intention
to cure the deficiency during the second compliance period, for example, by effecting a reverse stock split, if necessary. However, if
it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible,
Nasdaq would notify the Company that its securities would be subject to delisting. In the event of such a notification, the Company may
appeal the Nasdaq staff’s determination to delist its securities. There can be no assurance that the Company will be eligible for
the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company’s request for
continued listing subsequent to any delisting notification.
Forward-Looking Statements
Statements made in this report that are not statements
of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform
Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events.
These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that
are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by
the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors”
discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates
discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings
with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise that occur after that date, except as required by law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
|
Description |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
Date: October 6, 2023 |
ONDAS HOLDINGS INC. |
|
|
|
|
By: |
/s/ Eric A. Brock |
|
|
Eric A. Brock |
|
|
Chief Executive Officer |
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