Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On January 3, 2022, My Size, Inc. (the "Company") was notified (the
"Notification Letter") by the Nasdaq Listing Qualifications ("Nasdaq") that it
is not in compliance with the minimum bid price requirements set forth in Nasdaq
Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market.
Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum
bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides
that a failure to meet the minimum bid price requirement exists if the
deficiency continues for a period of 30 consecutive business days. Based on the
closing bid price of the Company's common stock for the 30 consecutive business
days prior to the date of the Notification Letter, the Company no longer meets
the minimum bid price requirement. The Notification Letter has no immediate
effect on the listing or trading of the Company's common stock on the Nasdaq
Capital Market and, at this time, the common stock will continue to trade on the
Nasdaq Capital Market under the symbol "MYSZ".
The Notification Letter provides that the Company has 180 calendar days, or
until July 5, 2022, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To
regain compliance, the bid price of the Company's common stock must have a
closing bid price of at least $1.00 per share for a minimum of 10 consecutive
business days. In the event the Company does not regain compliance by July 5,
2022, the Company may then be eligible for additional 180 days if it meets the
continued listing requirement for market value of publicly held shares and all
other initial listing standards for The Nasdaq Capital Market, with the
exception of the bid price requirement, and will need to provide written notice
of its intention to cure the deficiency during the second compliance period. If
the Company does not qualify for the second compliance period or fails to regain
compliance during the second compliance period, then Nasdaq will notify the
Company of its determination to delist the Company's common stock, at which
point the Company will have an opportunity to appeal the delisting determination
to a Hearings Panel.
The Company intends to monitor the closing bid price of its common stock and
may, if appropriate, consider implementing available options, including, but not
limited to, implementing a reverse stock split of its outstanding securities, to
regain compliance with the minimum bid price requirement under the Nasdaq
Listing Rules.
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