Form 8-K - Current report
October 31 2024 - 4:30PM
Edgar (US Regulatory)
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0001963685
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2024-10-25
2024-10-25
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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 31, 2024 (October 25, 2024)
Richtech Robotics Inc.
(Exact name of registrant as specified in its charter)
Nevada |
|
001-41866 |
|
88-2870106 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
4175 Cameron St Ste 1
Las Vegas, NV 89103
(Address of principal executive offices, including
zip code)
Registrant’s telephone number, including
area code: (866) 236-3835
Not Applicable
(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:
| ☐ | 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 |
Class B Common Stock, par value $0.0001 per share |
|
RR |
|
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.
Item 3.01.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
October 25, 2024, Richtech Robotics Inc., a Nevada corporation (the “Company”) received a notice from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that, because the closing bid price for
the Company’s Class B common stock has fallen below $1.00 per share for 30 consecutive business days, the Company no longer complies
with the minimum bid price requirement for continued listing on the Nasdaq Capital Market under Rule 5550(a)(2) of Nasdaq Listing Rules.
Nasdaq’s
notice has no immediate effect on the listing of the Company’s Class B common stock on the Nasdaq Capital Market. Pursuant to
Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until April
23, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the
Company’s Class B common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days prior to
April 23, 2025.
If the Company does not regain
compliance by April 23, 2025, the Company may be eligible for an additional grace period. To qualify, the Company would be
required to meet the continued listing requirements for market value of publicly held shares and all other initial listing standards for
the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and to provide written notice of its intention to
cure the minimum bid price deficiency during the second compliance period. If the Company meets these requirements, the Nasdaq
staff will grant an additional 180 calendar days for the Company to regain compliance with the minimum bid price requirement. If the Nasdaq
staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional
compliance period, Nasdaq will provide notice that the Company’s Class B common stock will be subject to delisting. The
Company would have the right to appeal a determination to delist its Class B common stock, and the Class B common stock would remain listed
on the Nasdaq Capital Market until the completion of the appeal process.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are
being filed herewith:
Exhibit No. |
|
Description |
104 |
|
Cover Page Interactive Data File (embedded within the
Inline XBRL document) |
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.
|
Richtech Robotics Inc. |
|
|
|
|
By: |
/s/ Zhenwu (Wayne) Huang |
|
|
Name: |
Zhenwu (Wayne) Huang |
|
|
Title: |
Chief Executive Officer and Director |
|
|
|
Dated: October 31, 2024 |
|
|
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