Surgalign Announces Receipt of Nasdaq Deficiency Notice and Intends to Submit Plan to Regain Compliance
2023年4月13日 - 9:30PM
Surgalign Holdings, Inc., (NASDAQ: SRGA) a global medical
technology company focused on elevating the standard of care by
driving the evolution of digital surgery, announced today that on
April 10, 2023, it received a notification letter from the Listing
Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”)
notifying the Company that it is no longer in compliance with the
$10 million minimum stockholders’ equity requirement for continued
listing on the NASDAQ Global Select Market under Nasdaq Listing
Rule 5450(b)(1)(A). The notification letter further indicated that
the Company does not meet alternative standards set forth in the
Nasdaq Listing Rules for continued listing on the Nasdaq Global
Select Market.
This notification has no immediate effect on the Company’s
listing or in the trading of its Company’s common stock on the
Nasdaq. Under Nasdaq rules, the Company has 45 calendar days to
submit a plan to regain compliance which may include, among other
things, an application to transfer its common stock listing to the
NASDAQ Capital Market. If Nasdaq accepts the Company’s plan, of
which there can be no assurance, it may be granted up to 180
calendar days from the date of notification to provide evidence of
compliance. If Nasdaq determines that the Company's plan is not
acceptable, the Company may appeal NASDAQ's determination to a
NASDAQ Hearings Panel.
The Company intends to submit to Nasdaq on or before May 25,
2023 a plan to regain compliance.
About Surgalign Holdings, Inc.
Surgalign Holdings, Inc. is a global medical technology company
committed to the promise of digital health to drive transformation
across the surgical landscape. Uniquely aligned and resourced to
advance the standard of care, the company is building technologies
physicians and other health providers will look to for what is
truly possible for their patients. Surgalign is focused on
developing solutions that are designed to predictably deliver
superior clinical and economic outcomes. Surgalign markets products
throughout the United States and in approximately 40 countries
worldwide through its network of top independent distributors.
Surgalign is headquartered in Deerfield, IL, with commercial,
innovation and design centers in San Diego, CA, Warsaw and Poznan,
Poland, and Wurmlingen, Germany. Learn more at
www.surgalign.com and connect on LinkedIn and Twitter.
Forward Looking Statements
This press release contains forward-looking statements based on
management’s current expectations, our management’s beliefs and
certain assumptions made by our management. Words such as
“anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” variations of such words and similar expressions are
intended to identify such forward-looking statements. The
forward-looking statements are not guarantees of future performance
and are based on certain assumptions including general economic
conditions, as well as those within the Company’s industry, and
numerous other factors and risks identified in the Company’s most
recent Form 10-K and other filings with the SEC. Our actual results
may differ materially from the anticipated results reflected in
these forward-looking statements. Important factors that could
cause actual results to differ materially from the anticipated
results reflected in these forward-looking statements include risks
and uncertainties relating to the following: (i) the Company’s
access to adequate operating cash flow, trade credit, borrowed
funds and equity capital to fund its operations and pay its
obligations as they become due, and the terms on which external
financing may be available, including the impact of adverse trends
or disruption in the global credit and equity markets; (ii) risks
relating to existing or potential litigation or regulatory actions;
(iii) the identification of control deficiencies, including
material weaknesses in internal control over financial reporting;
(iv) general worldwide economic conditions and related
uncertainties; (v) the continued impact of COVID-19 variants,
particularly in international markets served by the Company; (vi)
the failure by the Company to identify, develop and successfully
implement its strategic initiatives, particularly with respect to
its digital surgery strategy ; (vii) the reliability of our supply
chain; (viii) our ability to meet obligations, including purchase
minimums, under our vendor and other agreements; (ix) whether or
when the demand for procedures involving our products will
increase; (x) our financial position and results, total revenue,
product revenue, gross margin, and operations; (xi) failure to
realize, or unexpected costs in seeking to realize, the expected
benefits of the Holo Surgical Inc. (“Holo Surgical”) and Inteneural
Networks Inc. (“INN”) acquisitions, including the failure of Holo
Surgical’s and INN’s products and services to be satisfactorily
developed or achieve applicable regulatory approvals or as a result
of the failure to commercialize and distribute its products; (xii)
the failure to effectively integrate Holo Surgical’s and INN’s
operations with those of the Company, including: retention of key
personnel; the effect on relationships with customers, suppliers,
and other third parties; and the diversion of management time and
attention to the integration; (xiii) the number of shares and
amount of cash that will be required in connection with any
post-closing milestone payments, including as a result of changes
in the trading price of the Company’s common stock and their effect
on the amount of cash needed by the Company to fund any
post-closing milestone payments in connection with the
acquisitions; (xiv) the continuation of recent quality issues with
respect to our global supply chain (xv) the effect and timing of
changes in laws or in governmental regulations; and (xvi) other
risks described in our public filings with the SEC. These factors
should be considered carefully, and undue reliance should not be
placed on the forward-looking statements. Each forward-looking
statement in this communication speaks only as of the date of the
particular statement. Copies of the Company's SEC filings may be
obtained by contacting the Company or the SEC or by visiting
Surgalign's website at http://www.surgalign.com/ or the SEC’s
website at http://www.sec.gov/. We undertake no obligation to
update these forward-looking statements except as may be required
by law.
Investor and Media Relations Contact: Glenn
WienerGW CommunicationsT: +1 (917) 887 8434E: gwiener@gwcco.com
Surgalign (NASDAQ:SRGA)
過去 株価チャート
から 8 2024 まで 9 2024
Surgalign (NASDAQ:SRGA)
過去 株価チャート
から 9 2023 まで 9 2024