Vascular Biogenics Ltd. filed SEC Form 8-K: Other Events
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Item 8.01 Other Events.
Regaining Compliance with Nasdaq Listing Rules
On October 19, 2023, Notable Labs, Ltd. (the “Company”) received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has demonstrated compliance with Nasdaq’s initial listing requirements, including the bid price requirement with respect to the Company’s ordinary shares, and that, accordingly, Nasdaq considers the prior outstanding minimum bid price deficiency matter described below to be closed.
Prior Background
As previously disclosed, the Company (then known as Vascular Biogenics Ltd.) had received a letter (the “Notice”) from Nasdaq on August 31, 2022, indicating that Nasdaq had determined that the Company no longer met the minimum bid price requirement of Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”), as the minimum closing bid price for the Company’s ordinary shares was less than $1.00 for the previous 30 consecutive business days. The Notice provided that the Company may consider applying to transfer the listing of its ordinary shares to The Nasdaq Capital Market and following such transfer, under Nasdaq Listing Rule 5810(c)(3)(A)(ii), the Company may be eligible for an additional 180 calendar day compliance period.
Subsequently, on March 2, 2023, the Company transferred its listing to The Nasdaq Capital Market and was provided an additional 180 calendar day compliance period, or until August 28, 2023, to demonstrate compliance with Nasdaq Listing Rule 5550(a)(2).
On August 29, 2023, the Company was notified by Nasdaq that it had not regained compliance with the Minimum Bid Price Requirement. In anticipation of the pending merger transaction with Notable Labs, Inc., the Company timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”), which had stayed the suspension of the Company’s ordinary shares pending the Panel’s conclusion of the hearing process.
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.
| NOTABLE LABS, LTD. | |||
| Date: | October 20, 2023 | By: | /s/ Dr. Thomas A. Bock |
| Name: | Dr. Thomas A. Bock | ||
| Title: | Chief Executive Officer | ||