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8-K: Current report

SEC announcement ·  May 28 09:21
Summary by Moomoo AI
Cingulate Inc., a company listed on the Nasdaq Capital Market, has successfully regained compliance with the Nasdaq's minimum stockholders' equity requirement of $2.5 million, as per the Nasdaq Listing Rule 5550(b)(1). This development was officially communicated to the company by the Nasdaq Hearings Panel on May 21, 2024. The compliance achievement follows a series of notifications and extensions provided by Nasdaq, including a previous notice of non-compliance on May 16, 2023, and an extension granted until May 13, 2024, to meet the equity requirement. Additionally, Cingulate Inc. had addressed a separate compliance issue regarding the minimum bid price rule by effecting a reverse stock split on November 30, 2023, and was notified of regained compliance on December 15, 2023. Despite these positive developments, the company will be under a...Show More
Cingulate Inc., a company listed on the Nasdaq Capital Market, has successfully regained compliance with the Nasdaq's minimum stockholders' equity requirement of $2.5 million, as per the Nasdaq Listing Rule 5550(b)(1). This development was officially communicated to the company by the Nasdaq Hearings Panel on May 21, 2024. The compliance achievement follows a series of notifications and extensions provided by Nasdaq, including a previous notice of non-compliance on May 16, 2023, and an extension granted until May 13, 2024, to meet the equity requirement. Additionally, Cingulate Inc. had addressed a separate compliance issue regarding the minimum bid price rule by effecting a reverse stock split on November 30, 2023, and was notified of regained compliance on December 15, 2023. Despite these positive developments, the company will be under a discretionary panel monitor until May 21, 2025, and will not be allowed to submit a plan of compliance for any new deficiencies during this period. The company has updated its risk factors to reflect the potential negative impacts of failing to maintain compliance, which could include delisting from Nasdaq and adverse effects on the liquidity and price of its common stock and warrants, as well as its ability to access capital markets and maintain investor, supplier, customer, and employee confidence.

This announcement is a separate document:

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