Eyenovia Inc. filed SEC Form 8-K: Other Events
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Item 8.01 Other Events
On February 25, 2025, the staff of The Nasdaq Stock Market LLC (“Nasdaq”) notified Eyenovia, Inc. (the “Company”) that, as of February 20, 2025, the Company had regained compliance with the requirement that the bid price for the Company’s common stock close above $1.00 per share (the “Minimum Bid Requirement”). Nasdaq’s notice provided that because the Company had regained compliance with the Minimum Bid Requirement, the listing of the Company’s common stock on the Nasdaq Capital Market would continue.
As previously disclosed, on September 18, 2024, the Company received a letter from Nasdaq providing notification that, for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until March 17, 2025, to regain compliance with the Minimum Bid Requirement (the “Bid Price Cure Period”).
On December 12, 2024, the Company received a letter from Nasdaq notifying the Company that, as of December 11, 2024, the common stock had a closing bid price of $0.10 or less for 10 consecutive trading days. Accordingly, the Company was subject to the provisions of Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). As a result, Nasdaq had determined to delist the Company’s securities from The Nasdaq Capital Market, notwithstanding the Bid Price Cure Period, which was rendered unavailable by the Low Priced Stocks Rule.
The Company’s compliance plan was approved by a Nasdaq Hearings Panel (the “Panel”) granting the Company an exception until February 14, 2025 to demonstrate compliance with the Minimum Bid Requirement. On January 31, 2025, the Company effected a reverse stock split as disclosed in a Current Report on Form 8-K filed on January 31, 2025, in compliance with the terms of the exception received from the Panel.
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.
| EYENOVIA, INC. | ||
| By: | /s/ Michael Rowe | |
| Name: | Michael Rowe | |
| Title: | Chief Executive Officer | |
Dated: February 25, 2025