UNITED STATES
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CURRENT REPORT
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Item 8.01Other Events.
Regained Compliance with Nasdaq Board Independence Rule and Nasdaq Listing Requirements
On January 9, 2024, Elutia Inc. (the “Company”) received written notice from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company had regained compliance with Nasdaq Listing Rule 5605(b)(1) (the “Board Independence Rule”). Compliance was regained following the Company’s confirmation to Nasdaq that a majority of its Board of Directors are “independent” within the meaning of Listing Rule 5605(a)(2). Previously, on December 5, 2023, the Company had notified Nasdaq that it was not in compliance with Listing Rule 5605(b)(1) because, at that time, three of the Company’s directors were independent and three were not.
As a result of the Company regaining compliance with the Board Independence Rule, and previously regaining compliance with Listing Rule Nasdaq Listing Rule 5550(b)(2) (the “Market Value Standard”), the Company is now in compliance with Nasdaq’s listing requirements, and the hearing that was scheduled with the Nasdaq Hearings Panel to appeal Nasdaq’s prior delisting determinations relating to the Board Independence Rule and Market Value Standard has been canceled. The Company’s Class A common stock will continue to be listed and traded on the Nasdaq Capital Market under the symbol “ELUT.”
Forward-Looking Statements
This report contains “forward-looking statements” within the meaning of the securities laws. Forward-looking statements in this report include any statements about the Company’s future compliance with applicable Nasdaq listing standards and continued listing on Nasdaq. Forward-looking statements are based on management’s current assumptions and expectations of future events; actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties, including those found in the Company’s periodic reports. Consequently, you should not rely on forward-looking statements as predictions of future events. Except as required by applicable law, the Company expressly disclaims any obligations to publicly update any forward-looking statements.
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.
| ELUTIA INC. | |
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Date: January 10, 2024 | By: | /s/ Matthew Ferguson |
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| Matthew Ferguson |
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| Chief Financial Officer |