Current Report Filing (8-k)
November 10 2022 - 1:01PM
Edgar (US Regulatory)
0001446159
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0001446159
2022-11-10
2022-11-10
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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 10, 2022
Predictive Oncology
Inc.
(Exact name of Registrant as Specified in its
Charter)
Delaware |
001-36790 |
33-1007393 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2915 Commers Drive, Suite 900
Eagan, Minnesota |
55121 |
(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s telephone number, including
area code: (651) 389-4800
Former Name or Former Address, if Changed Since
Last Report: Not Applicable
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, $0.01 par value |
POAI |
Nasdaq Capital Market |
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. |
On
May 13, 2022, Predictive Oncology Inc. (the “Company”) received a letter (the “Notice”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for the Company’s common stock had
closed below $1.00 per share for 30 consecutive business days, and that the Company was therefore not in compliance with the minimum bid
price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid
Price Requirement”). The Notice stated that the Company had 180 days, or until November 9, 2022, to regain compliance by maintaining
a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days.
On
November 10, 2022, Nasdaq notified the Company that while the Company had not regained compliance with the Minimum Bid Price Requirement,
it is eligible for an additional 180-day calendar period, or until May 8, 2023, to regain compliance. Nasdaq’s determination was
based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements
for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and the Company’s written
notice to Nasdaq 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 with the Minimum Bid Price Requirement by May 8, 2023, Nasdaq will provide written notification
to the Company that its common stock will be delisted. At that time, the Company may appeal Nasdaq’s delisting determination to
a Hearings Panel (the “Panel”). The Company’s common stock would remain listed pending the Panel’s decision. There
can be no assurance that if the Company does appeal such a delisting determination by Nasdaq to the Panel, that such appeal would be successful.
The
Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options
to regain compliance with the Minimum Bid Price Requirement, including effectuating a reverse stock split.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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PREDICTIVE ONCOLOGY inc. |
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By: |
/s/ Bob Myers |
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Name: Bob Myers
Title: Chief Financial Officer |
Date: November 10, 2022
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