Current Report Filing (8-k)
March 17 2023 - 4:31PM
Edgar (US Regulatory)
0001879726
false
0001879726
2023-03-14
2023-03-14
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): March 14, 2023
SIDUS
SPACE, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-41154 |
|
46-0628183 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
150
N. Sykes Creek Parkway, Suite 200
Merritt
Island, FL |
|
32953 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (321) 613-5620
Not
Applicable
(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 Instructions 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 |
Class
A Common Stock, $0.0001 par value per share |
|
SIDU |
|
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
March 14, 2023, Sidus Space, Inc. (the “Company”) received written notice (the “Notice”) from the Nasdaq
Stock Market, LLC (“Nasdaq”) indicating that the bid price for the Company’s common stock (the “Common
Stock”), for the last 30 consecutive business days, had closed below the minimum $1.00 per share and, as a result, the Company
is not in compliance with the $1.00 minimum bid price requirement for the continued listing on the Nasdaq Capital Market, as set forth
in Nasdaq Listing Rule 5550(a)(2). The Notice has no effect at this time of the Common Stock, which continues to trade on the Nasdaq
Capital Market under the symbol “ARDS”.
In
accordance with the Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until September 11, 2023, to
regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or
exceed $1.00 per share for a minimum of ten consecutive business days during this 180 day period.
If
the Company is not in compliance by September 11, 2023, the Company may qualify for a second 180 calendar day compliance period. If the
Company does not qualify for, or fails to regain compliance during the second compliance period, then the Nasdaq will notify the Company
of its determination to delist its Common Stock, at which point the Company would have an option to appeal the delisting determination
to a Nasdaq hearings panel.
The
Company intends to actively 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 under the Nasdaq Listing Rules.
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.
|
SIDUS
SPACE, INC. |
Dated:
March 17, 2023 |
|
|
By: |
/s/
Carol Craig |
|
Name: |
Carol
Craig |
|
Title: |
Chief
Executive Officer |
Sidus Space (NASDAQ:SIDU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sidus Space (NASDAQ:SIDU)
Historical Stock Chart
From Apr 2023 to Apr 2024