Form 8-K - Current report
2024年12月27日 - 6:15AM
Edgar (US Regulatory)
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0001920406
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2024-12-16
2024-12-16
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): December
16, 2024
ASSET ENTITIES INC. |
(Exact name of Company as specified in its charter) |
Nevada |
|
001-41612 |
|
88-1293236 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
100 Crescent Ct, 7th Floor, Dallas, TX |
|
75201 |
(Address of principal executive offices) |
|
(Zip Code) |
(214) 459-3117 |
(Company’s telephone number, including area code) |
|
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
]☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Class B Common Stock, $0.0001 par value per share |
|
ASST |
|
The Nasdaq Stock Market LLC |
Indicate by check mark
whether the Company is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities
Exchange Act of 1934.
Emerging Growth Company ☒
If an emerging growth company, indicate by check mark
if the Company has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On December 16, 2024, Asset
Entities Inc., a Nevada corporation (the “Company”), received a written notification (the “Notification Letter”),
from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”)
notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2)
for continued listing on The Nasdaq Capital Market tier of Nasdaq.
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 Class B Common Stock, $0.0001 par value per share, of the Company (the “Class B Common Stock”),
for the 30 consecutive business days from October 31, 2024 to December 13, 2024, the Company no longer meets the minimum bid price
requirement.
The Notification Letter does
not impact the Company’s listing of the Class B Common Stock on The Nasdaq Capital Market at this time. However, the Notification
Letter provides that the Company’s name will be included on a list of all non-compliant companies which Nasdaq makes available to
investors on its website at listingcenter.nasdaq.com, beginning five business days from the date of the Notification
Letter.
In accordance with Nasdaq Listing
Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until June 16, 2025, to regain compliance with Nasdaq Listing
Rule 5550(a)(2). To regain compliance, the Company’s common stock must have a closing bid price of at least $1.00 for
a minimum of 10 consecutive business days. If the Company does not regain compliance during such 180-day period, the Company may be eligible
for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held
shares of $1,000,000 under Nasdaq Listing Rule 5550(a)(5) and all other initial listing standards for The Nasdaq Capital Market, except
for Nasdaq Listing Rule 5550(a)(2), and the Company must provide a written notice of its intention to cure this deficiency during the
second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance
period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist
the Class B Common Stock, and the Class B Common Stock will be subject to delisting. At that time, 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 the Class B Common Stock and may, if appropriate, consider implementing available options to regain compliance
with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: December 26, 2024 |
ASSET ENTITIES INC. |
|
|
|
/s/ Arshia Sarkhani |
|
Name: |
Arshia Sarkhani |
|
Title: |
Chief Executive Officer and President |
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