$T2 Biosystems (TTOO.US)$ of Listing.
On November 5, 2021, the Company received a letter (the "Nasdaq Staff Deficiency Letter")
from The Nasdaq Stock Market LLC ("Nasdaq") indicating that, for the last thirty 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 Global Market under Nasdaq
Listing Rule 5450(a) (1).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A)i), the Company has been provided
an initial period of 180 calendar days, or until May 4, 2022, to regain compliance. The letter
states that the Nasdaq staff will provide written notification that the Company has achieved
compliance with Rule 5450(a)(1) if at any time before May 4, 2022, the bid price of the
Company's common stock closes at $1.00 per share or more for a minimum of ten consecutive
business days. The Nasdaq Staff Deficiency Letter has no immediate effect on the listing or
trading of the Company's common stock.
The Company intends to monitor the bid price of its common stock and consider available
options, including effecting a reverse stock split, if its common stock does not trade at a level
likely to result in the Company regaining compliance with Nasdaq's minimum bid price rule by
May 4, 2022.
If the Company does not regain compliance with Rule 5450(a) (1) by May 4, 2022, the
Company may transfer to The Nasdaq Capital Market, provided that it meets the continued
listing requirement for the market value of publicly held shares and all other initial listing
standards for The Nasdaq Capital Market, except for the minimum bid price rule, and the
Company would need to provide written notice to Nasdaq of its intention to cure the deficiency
during the additional compliance period. Following a transfer to The Nasdaq Capital Market,
under Nasdaq Listing Rule 5810(c)(3)(A)(ii), the Company may be eligible for an additional 180
calendar day compliance period.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant