PERN CAPI Item 3.01Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company will have 180
calendar days, or until
If the Company does not regain compliance with the MVPHS Rule by the Compliance Date, Nasdaq will provide notice that the Class A Ordinary Shares will be delisted from The Nasdaq Global Market. In the event of such notification, the Nasdaq rules permit the Company an opportunity to appeal Nasdaq's determination. The Letter notes that if the Company is unable to regain compliance with the MVPHS Rule prior to the Compliance Date, the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). The Company is monitoring the MVPHS of its Class A Ordinary Shares and will consider options available to it to potentially achieve compliance.
This Current Report on Form 8-K contains certain "forward-looking statements"
within the meaning of the United States Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact contained in
this Current Report on Form 8-K are forward-looking statements. Some of these
forward-looking statements can be identified by the use of forward-looking
words, including "may," "should," "expect," "intend," "will," "estimate,"
"anticipate," "believe," "predict," "plan," "targets," "projects," "could,"
"would," "continue," "forecast" or the negatives of these terms or variations of
them or similar expressions. All forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements.
For example, there can be no assurance that the Company will regain compliance
with the MVPHS Rule during any compliance period or in the future or otherwise
meet Nasdaq compliance standards, that the Company will be eligible for a second
compliance period, that Nasdaq will grant the Company any relief from delisting
as necessary or that the Company can ultimately meet applicable Nasdaq
requirements for any such relief. All forward-looking statements are based upon
estimates, forecasts and assumptions that, while considered reasonable by the
Company and its management, are inherently uncertain and many factors may cause
the actual results to differ materially from current expectations which include,
but are not limited to the risks and uncertainties set forth under the sections
entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking
Statements and Risk Factor Summary" in the Company's Annual Report on Form 10-K
for the year ended December, 31, 2022, which was filed with the
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