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8K filed
Conduit Pharmaceuticals received a delisting notice from Nasdaq on December 17, 2024, due to its stock price closing below $0.10 for ten consecutive trading days. The company plans to request a hearing to present its compliance plan and seek an extension. Delisting action is stayed pending the hearing outcome.
At the annual meeting on December 18, shareholders approved a reverse stock split at a ratio between 1-for-10 and 1-for-100, to be determined by the Board. This move aims to regain compliance with Nasdaq's listing requirements. Additionally, Simon Fry's appointment as director became effective, resolving a previous audit committee compliance issue.
Shareholders also ratified Marcum LLP as the independent auditor for 2024 and re-elected six directors. The company's common stock and warrants continue trading on Nasdaq under "CDT" and "CDTTW" symbols, subject to ongoing listing deficiencies and the hearing process outcome.
At the annual meeting on December 18, shareholders approved a reverse stock split at a ratio between 1-for-10 and 1-for-100, to be determined by the Board. This move aims to regain compliance with Nasdaq's listing requirements. Additionally, Simon Fry's appointment as director became effective, resolving a previous audit committee compliance issue.
Shareholders also ratified Marcum LLP as the independent auditor for 2024 and re-elected six directors. The company's common stock and warrants continue trading on Nasdaq under "CDT" and "CDTTW" symbols, subject to ongoing listing deficiencies and the hearing process outcome.
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