Form 8-K - Current report
August 08 2024 - 2:00PM
Edgar (US Regulatory)
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0001668370
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2024-08-07
2024-08-07
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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 7, 2024
TOUGHBUILT INDUSTRIES, INC.
(Exact name of registrant
as specified in its charter)
Nevada |
|
001-38739 |
|
46-0820877 |
(State or other jurisdiction |
|
(Commission File Number) |
|
(IRS Employer |
of incorporation) |
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Identification No.) |
8669 Research Drive |
|
|
Irvine, CA |
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92618 |
(Address of principal executive offices) |
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(Zip Code) |
(949) 528-3100
(Registrant’s telephone
number, including area code)
N/A
(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 communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ |
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 |
|
TBLT |
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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 ☐
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 August 7, 2024, ToughBuilt Industries, Inc. (the “Company”)
notified The Nasdaq Stock Market LLC that it was withdrawing its appeal to the Nasdaq Hearings Panel. Although the Company was earlier
notified by Nasdaq on August 7, 2024, that it had regained compliance with the majority independent board and various board committee
requirements, specifically under Nasdaq Listing Rules 5605(b), 5605(c)(2)(A)(i) and (ii), 5605(d)(2)(A), and 5605(e)(1), the Company remained
subject to delisting based on its continued non-compliance with Nasdaq’s filing requirement, as set forth in Nasdaq Listing Rule
5250(c)(1), and due to concerns raised by the Staff regarding the independence of a former director pursuant to Nasdaq Rule 5101 and IM-5101-1.
As a result of the Company’s withdrawal, by separate notice dated
August 7, 2024, Nasdaq notified the Company that trading of the Company’s common stock on Nasdaq would be suspended effective with
the open of business on Friday, August 9, 2024. Nasdaq will file a Form 25 Notification of Delisting with the Securities and Exchange
Commission (the “SEC”) at some point thereafter.
The Company has been advised that its common stock will be eligible
to trade for one day, Friday, August 9, 2024, on the OTC Markets Pink tier, after which the Company’s common stock may trade in
the OTC Markets’ “Expert” market pending the Company’s full compliance with its SEC reporting obligations. The
Company plans to file its delinquent Form 10-K for the fiscal year ended December 31, 2023, and Forms 10-Q for the quarters ended March
31, 2024, and June 30, 2024, as soon as practicable, and once current in its SEC filings, the Company’s common stock may trade on
the OTCQB market tier.
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.
|
ToughBuilt Industries, Inc. |
|
|
Date: August 8, 2024 |
By: |
/s/ Martin Galstyan |
|
Name: |
Martin Galstyan |
|
Title: |
Chief Financial Officer |
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