Form 8-K - Current report
2024年8月28日 - 7:02PM
Edgar (US Regulatory)
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0001829635
0001829635
2024-08-28
2024-08-28
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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):
August 28, 2024
TRANSCODE THERAPEUTICS, INC.
(Exact name of registrant as specified in its
charter)
Delaware |
|
001-40363 |
|
81-1065054 |
(State or
other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
TransCode
Therapeutics, Inc.
6 Liberty Square, #2382
Boston, Massachusetts 02109
(Address
of principal executive offices, including zip code)
(857)
837-3099
(Registrant’s
telephone number, including area code)
Not Applicable
(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 registrant 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 |
Common Stock, par value $0.0001 per share |
|
RNAZ |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant
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 8.01. Other Events.
As previously disclosed, on August 13, 2024,
TransCode Therapeutics, Inc., a Delaware corporation, (the “Company”) announced that they had received a letter (the
“Minimum Bid Price Deficiency Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq
Stock Market LLC (“Nasdaq”) notifying the Company that, for the 30 consecutive business day period from July 1 through
August 12, 2024, the Company’s common stock had not maintained a minimum closing bid price of $1.00 per share (the “Minimum
Bid Price Requirement”) required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2).
Normally, a company would be afforded a 180-calendar day period to demonstrate compliance with the Minimum Bid Price Requirement. However,
pursuant to Listing Rule 5810(c)(3)(A)(iv), the Company is not eligible for any compliance period specified in Rule 5810(c)(3)(A) because
the Company effected two reverse stock splits over the prior two-year period with a cumulative ratio of more than 250 shares to one.
Separate from and in addition to the Minimum Bid
Price Deficiency Letter, as previously disclosed, on August 15, 2024, the Company received a letter (the “Stockholders’
Equity Requirement Deficiency Letter” and together with the Minimum Bid Price Deficiency Letter, the “Deficiency Letters”)
from the Staff of Nasdaq notifying the Company that it was not in compliance with the minimum stockholders’ equity requirement for
continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The Nasdaq Capital
Market to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement”). The Company’s
Quarterly Report on Form 10-Q for the period ended June 30, 2024, reported stockholders’ equity of $1,322,274 at June 30,
2024, which is below the Stockholders’ Equity Requirement for continued listing on The Nasdaq Capital Market (the “Stockholders’
Equity Requirement Deficiency”). In that Quarterly Report on Form 10-Q, the Company reported that with the addition of approximately
$2.4 million of net proceeds from a July 2024 equity offering, it had pro forma stockholders’ equity at June 30, 2024,
of approximately $3.7 million. There is no assurance that the Staff will assess the Company’s stockholders’ equity on a pro
forma basis. As of the date of this Current Report on Form 8-K, the Company does not have a market value of listed securities of
$35 million, or net income from continued operations of $500,000 in the most recently completed fiscal year or in two of the last three
most recently completed fiscal years, the alternative quantitative standards for continued listing on The Nasdaq Capital Market.
The Stockholders’ Equity Requirement Deficiency
Letter stated that the Company’s Stockholders’ Equity Requirement Deficiency serves as an additional basis for delisting the
Company’s securities from The Nasdaq Stock Market and that at a hearing in connection with the Minimum Bid Price Requirement, the
Nasdaq Hearings Panel (“Panel”) will consider the Company’s Stockholders’ Equity Requirement Deficiency as well.
The Company timely appealed the determination
of the Staff to delist the Company’s securities from The Nasdaq Capital Market and has been informed by the Staff that the delisting
action referenced in the Staff’s Deficiency Letters has been stayed, pending a final written decision by the Panel. The Panel will
consider the Company’s appeal at an oral hearing scheduled for October 1, 2024.
There can be no assurance
that the Panel will grant the Company an additional extension period, that the Company will ultimately regain compliance with all applicable
requirements for continued listing on The Nasdaq Capital Market or regarding the continued listing of the Company’s common stock
on the Nasdaq Capital Market and the Company’s common stock could be subject to delisting.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 28, 2024 |
TransCode Therapeutics, Inc. |
|
|
|
By: |
/s/ Thomas A. Fitzgerald |
|
|
Thomas A. Fitzgerald |
|
|
Interim Chief Executive Officer |
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Entity File Number |
001-40363
|
Entity Registrant Name |
TRANSCODE THERAPEUTICS, INC.
|
Entity Central Index Key |
0001829635
|
Entity Tax Identification Number |
81-1065054
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
6 Liberty Square
|
Entity Address, Address Line Two |
#2382
|
Entity Address, City or Town |
Boston
|
Entity Address, State or Province |
MA
|
Entity Address, Postal Zip Code |
02109
|
City Area Code |
857
|
Local Phone Number |
837-3099
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TransCode Therapeutics (NASDAQ:RNAZ)
過去 株価チャート
から 9 2024 まで 10 2024
TransCode Therapeutics (NASDAQ:RNAZ)
過去 株価チャート
から 10 2023 まで 10 2024