Item 3.01. Notice of Delisting or Failure to Satisfy Continued Listing Rule or
Standard; Transfer of Listing.
On May 2, 2023, Comera Life Sciences Holdings, Inc. (the "Company") received
written notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the
Company is not in compliance with the $1.00 minimum bid price requirement for
continued listing on The Nasdaq Capital Market, as set forth in Listing Rule
5550(a)(2). In accordance with Listing Rule 5810(c)(3)(A), the Company has a
period of 180 calendar days, or until October 30, 2023, to regain compliance
with the minimum bid price requirement. To regain compliance, the closing bid
price of the Company's common stock must meet or exceed $1.00 per share for a
minimum of ten consecutive business days during this 180-day period.
If the Company is not in compliance by October 30, 2023, the Company may be
eligible for additional time to regain compliance. To qualify, 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, except for the minimum bid price requirement. In addition, the
Company would be required to notify Nasdaq of its intent to cure the minimum bid
price deficiency.
If the Company does not regain compliance within the allotted compliance
periods, including any extensions that may be granted by Nasdaq, Nasdaq will
provide notice that the Company's common stock will be subject to delisting. The
Company would then be entitled to appeal Nasdaq's determination, but there can
be no assurance that Nasdaq would grant the Company's request for continued
listing.
The Company intends to monitor the closing bid price of its common stock and
consider options to resolve the noncompliance with the minimum bid price
requirement. There can be no assurance that the Company will be able to regain
compliance with the minimum bid price requirement or will otherwise be in
compliance with other Nasdaq listing criteria.
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