Current Report Filing (8-k)
May 19 2021 - 5:20PM
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): May 19, 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: (949) 528-3100
None
(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):
[ ]
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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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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).
[X]
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.
[ ]
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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Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
May 19, 2021, ToughBuilt Industries, Inc. (the “Company”) received written notice from the Nasdaq Stock Market LLC
stating that the Company has failed to maintain a minimum bid price of at least $1.00 per share for the prior 30 consecutive trading
day period from April 7, 2021 to May 18, 2021, based upon the closing bid price for its common stock as required by Nasdaq Listing Rule
5550(a)(2).
Pursuant
to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until November 15, 2021, to regain compliance with the minimum
bid requirement under Nasdaq Listing Rule 5550(a)(2). During the compliance period, the Company’s common stock will continue to
be listed and traded on the Nasdaq Stock Market. To regain compliance, the closing bid price of the Company’s common stock must
meet or exceed $1.00 per share for a minimum of 10 consecutive trading days, unless extended by Nasdaq under
Nasdaq Rule 5810(c)(3)(G), prior to November 15, 2021.
In
the event the Company does not regain compliance during the compliance period, the Company may be eligible for additional 180 calendar
days to comply with Nasdaq Listing Rule 5550(a)(2), subject to the Company satisfying the continued listing requirement for the market
value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price
requirement, subject to Nasdaq’s approval.
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:
May 19, 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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