Form 8-K/A - Current report: [Amend]
September 06 2024 - 5:00PM
Edgar (US Regulatory)
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2024-08-28
2024-08-28
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2024-08-28
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K/A
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): |
|
August
28, 2024 |
Verb
Technology Company, Inc. |
(Exact
Name of Registrant as Specified in Charter) |
Nevada |
|
001-38834 |
|
90-1118043 |
(State
or Other Jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
No.) |
3024
Sierra Juniper Court
Las
Vegas, Nevada |
|
89138 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrant’s
Telephone Number, Including Area Code: |
|
(855)
250-2300 |
|
(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):
☐ |
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, par value $0.0001 |
|
VERB |
|
The
Nasdaq Stock Market LLC |
Common
Stock Purchase Warrants |
|
VERBW |
|
The
Nasdaq Stock Market LLC |
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. ☐
Explanatory
Note
This
Current Report on Form 8-K/A (this “Amendment”) is being filed to update the Current Report on Form 8-K filed by Verb Technology
Company, Inc. (the “Company”) on September 4, 2024 (the “Original Report”). This Amendment revises the disclosure
by adding certain dates that were inadvertently omitted from the Original Report. No other changes have been made to the Original Report.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As
previously disclosed, on November 2, 2023, the Company received a letter from the Nasdaq Listing Qualifications Department of the Nasdaq
Stock Market (the “Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because
the closing bid price per share for the Company’s common stock had closed below $1.00 for the previous 30 consecutive business
days (the “Bid Price Rule”). The Company was given until April 30, 2024, to regain compliance with the Bid Price Rule. On
May 1, 2024, the Company received notice from Nasdaq that the Company had been granted an additional 180-day grace period, or until October
28, 2024, to regain compliance with the Bid Price Rule.
On
August 6, 2024, the Company received notice from the Staff indicating that the bid price for the Company’s common stock had closed
below $0.10 per share for the 10-consecutive trading day period ended August 5, 2024 and, accordingly, the Company is subject to the
provisions contemplated under Nasdaq Listing Rule 5810(c)(3)(A)(iii) and its securities are subject to delisting from Nasdaq unless the
Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”).
On
August 12, 2024, the Company timely requested a hearing before the Panel to appeal the delisting determination. In response, Nasdaq set
a hearing date of September 19, 2024, and offered the Company an expedited review process, which required the Company to complete a questionnaire
regarding the Company’s plan to regain compliance with the Bid Price Rule. The Company submitted the completed questionnaire on
August 14, 2024, which included the representation that, if necessary, the Company will effect a reverse stock split on or before October
2, 2024, to regain compliance with the Bid Price Rule.
On
August 6, 2024, the Company filed a preliminary proxy statement on Schedule 14A in connection with the Company’s annual meeting
of stockholders scheduled for September 26, 2024. At the annual meeting, the Company intends to seek the approval of its stockholders
to implement a reverse stock split in the range within a range of one-for-five (1-for-5) to a maximum of a one-for-two hundred (1-for-200).
Upon receipt of the requisite approval of its stockholders, the Company intends, if necessary, to expeditiously implement the reverse
stock split to regain compliance with Nasdaq’s Bid Price Rule.
On
August 28, 2024, the Company received a notice from Nasdaq that, based upon its review of the written record, the Panel had granted the
Company a temporary exception until October 21, 2024 to, effect the reverse stock split and thereafter regain compliance with the Bid
Price Rule. The Nasdaq Hearing Panel noted that the temporary exception was granted based upon the Company’s representation that
it would complete a reverse stock split, if necessary, no later than October 2, 2024. The Company prioritizes regaining compliance with
the Bid Price Rule through other measures before resorting to a reverse stock split. However, in the event the Company fails to achieve
compliance by mid-September 2024, it will be required to undertake a reverse stock split to regain compliance by the October 21, 2024
deadline. In the event the Company fails to regain compliance with the Bid Price Rule by October 21, 2024, its securities will be delisted.
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.
Date:
September 6, 2024 |
VERB
TECHNOLOGY COMPANY, INC. |
|
|
|
By: |
/s/
Rory J. Cutaia |
|
Name: |
Rory
J. Cutaia |
|
Title: |
President
and Chief Executive Officer |
v3.24.2.u1
Cover
|
Aug. 28, 2024 |
Document Type |
8-K/A
|
Amendment Flag |
true
|
Amendment Description |
This
Current Report on Form 8-K/A (this “Amendment”) is being filed to update the Current Report on Form 8-K filed by Verb Technology
Company, Inc. (the “Company”) on September 4, 2024 (the “Original Report”). This Amendment revises the disclosure
by adding certain dates that were inadvertently omitted from the Original Report. No other changes have been made to the Original Report.
|
Document Period End Date |
Aug. 28, 2024
|
Entity File Number |
001-38834
|
Entity Registrant Name |
Verb
Technology Company, Inc.
|
Entity Central Index Key |
0001566610
|
Entity Tax Identification Number |
90-1118043
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
3024
Sierra Juniper Court
|
Entity Address, City or Town |
Las
Vegas
|
Entity Address, State or Province |
NV
|
Entity Address, Postal Zip Code |
89138
|
City Area Code |
(855)
|
Local Phone Number |
250-2300
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
false
|
Common Stock, par value $0.0001 |
|
Title of 12(b) Security |
Common
Stock, par value $0.0001
|
Trading Symbol |
VERB
|
Security Exchange Name |
NASDAQ
|
Common Stock Purchase Warrants |
|
Title of 12(b) Security |
Common
Stock Purchase Warrants
|
Trading Symbol |
VERBW
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