Item 8.01. Other Events.
On September 30, 2022, Nabriva Therapeutics plc (the "Company") received a
letter (the "Compliance Letter") from The Nasdaq Stock Market LLC ("Nasdaq")
notifying the Company that it had regained compliance with the $1.00 per share
minimum bid price requirement for continued inclusion on the Nasdaq Capital
Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule").
The Company received written notice from Nasdaq on January 4, 2022 indicating
that, based on the closing bid price for the last 30 consecutive business days,
the Company was not in compliance the Bid Price Rule. The Notice did not result
in the immediate delisting of the Company's ordinary shares from the Nasdaq
Global Select Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the
"Compliance Period Rule"), the Company was provided a period of 180 calendar
days, or until July 5, 2022 (the "Initial Compliance Date"), to regain
compliance with the Bid Price Rule. The Company did not regain compliance with
the Bid Price Rule by the Initial Compliance Date. On July 6, 2022, Nasdaq
notified the Company that it was eligible for an additional 180 calendar day
period, or until January 2, 2023 (the "Extended Compliance Date"), to regain
compliance with the Bid Price Rule. Nasdaq's determination was based on, among
other things, (1) the Company's written notice of its intention to transfer to
the Nasdaq Capital Market and to cure the deficiency by the Extended Compliance
Date by effecting a reverse stock split, if necessary and (2) the Company
meeting the continued listing requirement for market value of publicly held
shares and all other initial listing requirements for the Nasdaq Capital Market,
with the exception of the Bid Price Rule. On July 6, 2022, Nasdaq approved the
Company's transfer from the Nasdaq Global Select Market to the Nasdaq Capital
Market, a continuous trading market that operates in substantially the same
manner as the Nasdaq Global Select Market. The transfer was effective at the
opening of business on July 8, 2022. As previously disclosed, the Company
effected a one-for-twenty-five reverse stock split of the Company's ordinary
shares, as of 5:00 p.m. Eastern Standard Time on September 15, 2022.
The Compliance Letter noted that (1) the Company's ordinary shares had a closing
bid price of at least $1.00 per share for a minimum of ten consecutive business
days from September 16, 2022 through September 29, 2022, (2) the Company has
regained compliance with the Bid Price Rule and (3) Nasdaq considers the matter
closed.
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