Current Report Filing (8-k)
February 10 2021 - 9:06AM
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): February 9, 2021
TOUGHBUILT
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
Nevada
|
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001-38739
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46-0820877
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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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25371
Commercentre Drive, Suite 200, Lake Forest, CA
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92630
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(Address
of principal executive offices)
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(Zip
code)
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Registrant’s
telephone number, including area code
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(949)
528-3100
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N/A
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(Former
name or former address, if changed since last report.)
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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(s)
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Name
of each exchange on which registered:
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Common
Stock
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TBLT
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Nasdaq
Capital Market
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Series
A Warrants
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TBLTW
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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 [X]
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
7.01 Regulation FD Disclosure.
A
copy of the Company’s press release, dated February 10, 2021, is furnished as Exhibit 99.1 to this Form 8-K and is incorporated
by reference herein.
The
information under Item 7.01 of this Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, or
incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall
be expressly set forth by specific reference in any such filing.
Item
8.01 Other Events.
On
February 9, 2021, ToughBuilt Industries, Inc. (the “Company”) received a letter from the Nasdaq Listing Qualifications
Staff (the “Staff”) of The Nasdaq Stock Market Inc. (“Nasdaq”) therein stating that the
Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Minimum
Bid Price Rule”) which requires that a Nasdaq-listed company’s common stock maintain a minimum bid price of at
least $1.00 per share.
As
previously announced, the Company received a notification letter from Nasdaq on July 24, 2020, indicating that the closing bid
price per share had been below $1.00 for a period of 30 consecutive business days and that the Company did not meet the Minimum
Bid Price Requirement. On January 21, 2021, the Company received a 180-day extension from the Staff to meet Nasdaq’s continuing
listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company
had until July 19, 2021 to meet Nasdaq’s Minimum Bid Price Rule.
The
Nasdaq letter, dated February 9, 2021, stated the Staff had determined that for the prior 20 consecutive business days, from January
12, 2021 to February 8, 2021, the closing bid price of the Company’s common stock had been at $1.00 or greater and that
accordingly, the Company has regained compliance under the Minimum Bid Price Rule and that the matter was deemed closed.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
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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TOUGHBUILT
INDUSTRIES, INC.
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Date:
February 10, 2021
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By:
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/s/
Martin Galstyan
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Name:
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Martin
Galstyan
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Title:
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Chief
Financial Officer
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