Current Report Filing (8-k)
October 15 2020 - 5:15PM
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): October 14, 2020
Predictive
Oncology Inc.
(Exact name of Registrant as Specified
in its Charter)
Delaware
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001-36790
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33-1007393
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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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2915 Commers Drive, Suite 900
Eagan, Minnesota
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55121
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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: (651) 389-4800
Former Name or Former Address, if Changed
Since Last Report: Not Applicable
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).
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, $0.01 par value
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POAI
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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 October 14, 2020, Predictive Oncology
Inc. (the “Company”) received a letter from the Listing Qualifications Department (the “Staff”)
of The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that because the closing bid price for the Company’s
common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company does not comply with the minimum closing
bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a
minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”). The notification has no immediate
effect on the listing of the Company’s common stock.
In accordance with Nasdaq’s Marketplace
Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until April 12, 2021, to regain compliance with the Minimum
Bid Price Requirement. If at any time before April 12, 2021 the bid price of the Company’s common stock closes at or above
$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved
compliance with the Minimum Bid Price Requirement.
The letter also disclosed that in the event
the Company does not regain compliance with the Minimum Bid Price Requirement by April 12, 2021, the Company may be eligible for
additional time. To qualify for additional time, the Company would be required to meet the continued listing requirement for 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, and would need to provide written notice of its intention to cure the deficiency during the second compliance
period, by effecting a reverse stock split, if necessary. However, if it appears to the Staff that the Company will not be able
to cure the deficiency, or if the Company is otherwise not eligible, the Staff would notify the Company that its securities would
be subject to delisting. In the event of such notification, the Company may appeal the Staff’s determination to delist its
securities, but there can be no assurance the Staff would grant the Company’s request for continued listing.
The Company intends to continue actively
monitoring the bid price for its common stock between now and April 12, 2021, and will consider available options to resolve the
deficiency and regain compliance with the Minimum Bid Price Requirement.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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PREDICTIVE ONCOLOGY inc.
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By:
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/s/ Bob Myers
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Name: Bob Myers
Title: Chief Financial Officer
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Date: October 15, 2020
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