Form 8-K - Current report
November 22 2023 - 3:35PM
Edgar (US Regulatory)
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0001509261
0001509261
2023-11-21
2023-11-21
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
November 21, 2023
REZOLUTE, INC.
(Exact Name of Registrant as Specified in Charter)
Nevada |
|
001-39683 |
|
27-3440894 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
275 Shoreline Drive, Suite 500, Redwood City,
CA 94065
(Address of Principal Executive Offices, and
Zip Code)
650-206-4507
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 (see General Instruction
A.2. below):
¨ |
Written communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communication 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 $0.001 per share |
RZLT |
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 (17 CFR §230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
Emerging growth company
¨
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 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On November 21, 2023, Rezolute, Inc. (the “Company”)
received a written notice (the “Notice”) from the Listing Qualifications Department of Nasdaq Stock Market (“Nasdaq”)
indicating that, because the closing bid price for the Company’s common stock has fallen below $1.00 per share for 30 consecutive
trading days, the Company was no longer in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2)
for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”).
The Notice has no immediate effect on the listing
of the Company’s common stock on The Nasdaq Capital Market and does not affect the Company’s reporting requirements with the
Securities and Exchange Commission. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided with a compliance
period of 180 calendar days, or until May 20, 2024, to regain compliance with the Bid Price Requirement (the “Initial Compliance
Period”). To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for
a minimum of 10 consecutive trading days prior to May 20, 2024.
If the Company does not regain compliance by May
20, 2024, the Company may be eligible for an additional grace period. To qualify, the Company must, as of the final day of the Initial
Compliance Period, meet the applicable market value of publicly held shares requirement for continued listing and all other applicable
standards for initial listing on the Capital Market (except the bid price requirement) based on the Company’s most recent public
filings and market information and must notify Nasdaq of its intent to cure this deficiency. If the Company meets these requirements,
the Nasdaq staff would be expected to grant an additional 180 calendar days for the Company to regain compliance with Bid Price Requirement.
The Company is currently evaluating various courses
of action to regain compliance with the Bid Price Requirement. There can be no assurance that the Company will regain compliance with
the Bid Price Requirement during the 180-day compliance period ending May 20, 2024, secure an extension of the compliance period beyond
May 20, 2024 or maintain compliance with any other Nasdaq listing requirement.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit Description
104 |
Cover Page Interactive Data File (formatted as inline XBRL) |
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains certain
forward-looking statements within the meaning of federal securities laws with respect to the Company. Forward-looking statements are predictions,
projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication,
including but not limited to: our ability to cure any deficiencies in compliance with the Bid Price Requirement or maintain compliance
with other Nasdaq Listing Rules; our eligibility for additional compliance periods, if necessary, in which to seek to regain compliance
with the Bid Price Requirement; our ability to ultimately obtain relief or extended periods to regain compliance from Nasdaq, if necessary,
or to meet applicable Nasdaq requirements for any such relief or extension; and risks related to the substantial costs and diversion of
personnel’s attention and resources due to these matters. While we are planning to take actions to address non-compliance with the
Bid Price Requirement, and have at least 180 days to do so, there can be no assurance that compliance will be achieved. Such non-compliance
or a delisting from Nasdaq would materially and adversely affect our ability to raise capital and our financial condition and business.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events, or otherwise.
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.
|
REZOLUTE, INC. |
|
|
|
DATE: November 22, 2023 |
By: |
/s/ Nevan Charles Elam |
|
|
Nevan Charles Elam
Chief Executive Officer |
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Nov. 21, 2023 |
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Document Type |
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Document Period End Date |
Nov. 21, 2023
|
Entity File Number |
001-39683
|
Entity Registrant Name |
REZOLUTE, INC.
|
Entity Central Index Key |
0001509261
|
Entity Tax Identification Number |
27-3440894
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
275 Shoreline Drive
|
Entity Address, Address Line Two |
Suite 500
|
Entity Address, City or Town |
Redwood City
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94065
|
City Area Code |
650
|
Local Phone Number |
206-4507
|
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Title of 12(b) Security |
Common Stock, par value $0.001 per share
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Trading Symbol |
RZLT
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Security Exchange Name |
NASDAQ
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Entity Emerging Growth Company |
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