0001826681false0001826681strc:RedeemableWarrantMember2023-07-202023-07-200001826681us-gaap:CommonStockMember2023-07-202023-07-2000018266812023-07-202023-07-20

 

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): July 20, 2023

 

 

Sarcos Technology and Robotics Corporation

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-39897

85-2838301

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

650 South 500 West, Suite 150

 

Salt Lake City, Utah

 

84101

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (888) 927-7296

 

 

(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

 

STRC

 

The Nasdaq Stock Market LLC

Redeemable warrants, exercisable for shares of Common Stock at an exercise price of $69.00 per share

 

STRCW

 

The Nasdaq Stock Market LLC

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 ☒

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 reported, on January 23, 2023, Sarcos Technology and Robotics Corporation (the “Company”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for the Company’s common stock (the “Common Stock”) had fallen below $1.00 per share for 30 consecutive business days, which is the minimum closing bid price required to maintain listing on the Nasdaq Stock Market under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Requirement”).

On July 20, 2023, the Company received written notice from Nasdaq notifying the Company that since the closing bid price for the Common Stock was $1.00 per share or greater for ten consecutive business days, the Company has regained compliance with the Minimum Bid Requirement and this matter is now closed.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

 

Exhibit
Number

Description

104

Cover Page Interactive Data File (formatted as Inline XBRL)

 

 

 

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 thereunto duly authorized.

 

 

 

Sarcos Technology and Robotics Corporation

 

 

 

 

Date:

July 24, 2023

By:

/s/ Andrew Hamer

 

 

Name:

Title:

Andrew Hamer
Chief Financial Officer

 

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Document And Entity Information
Jul. 20, 2023
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Jul. 20, 2023
Entity Registrant Name Sarcos Technology and Robotics Corporation
Entity Central Index Key 0001826681
Entity Emerging Growth Company true
Securities Act File Number 001-39897
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 85-2838301
Entity Address, Address Line One 650 South 500 West, Suite 150
Entity Address, City or Town Salt Lake City
Entity Address, State or Province UT
Entity Address, Postal Zip Code 84101
City Area Code (888)
Local Phone Number 927-7296
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Ex Transition Period false
Common Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, par value $0.0001 per share
Trading Symbol STRC
Security Exchange Name NASDAQ
Redeemable Warrant Member  
Document Information [Line Items]  
Title of 12(b) Security Redeemable warrants, exercisable for shares of Common Stock at an exercise price of $69.00 per share
Trading Symbol STRCW
Security Exchange Name NASDAQ
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