Form 8-K - Current report
25 Agosto 2023 - 10:15PM
Edgar (US Regulatory)
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2023-08-21
2023-08-21
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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 21, 2023
RENOVORX,
INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40738 |
|
27-1448452 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
4546
El Camino Real, Suite B1
Los
Altos, CA |
|
94022 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (650) 284-4433
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 Instructions A.2. below):
☐ |
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, $0.0001 par value per share |
|
RNXT |
|
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 21, 2023, RenovoRx, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as of August 18, 2023, the Company was not in compliance
with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, under Listing Rule 5550(b)(1),
because the Company’s stockholders’ equity of $1,188,000 as reported in the Company’s Quarterly Report on Form 10-Q
for the period ended June 30, 2023 was below the required minimum of $2.5 million, and because, as of June 30, 2023, the Company did
not meet the alternative compliance standards, relating to the market value of listed securities of $35 million or net income from continuing
operations of $500,000 in the most recently completed fiscal year.
The
Company has 45 calendar days from August 21, 2023, or through Thursday, October 5, 2023, to submit to Nasdaq a plan to regain compliance
with Listing Rule 5550(b)(1). If Nasdaq accepts the Company’s plan, Nasdaq may grant an extension of up to 180 calendar days from
August 21, 2023, or through Monday, February 19, 2024, to regain compliance. If Nasdaq does not accept the Company’s plan, the
Company will have the right to appeal such decision to a Nasdaq hearings panel.
The
Company intends to submit to Nasdaq, within the requisite time period, a plan to regain compliance with Listing Rule 5550(b)(1). There
can be no assurance that Nasdaq will accept the Company’s plan or that the Company will be able to regain compliance with Listing
Rule 5550(b)(1) or maintain compliance with any other Nasdaq requirement in the future.
The
Company, by filing this Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Listing Rule 5810(b).
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.
|
RENOVORX,
INC. |
|
|
|
Date:
August 25, 2023 |
|
|
|
|
|
|
By:
|
/s/
Shaun R. Bagai |
|
Name:
|
Shaun
R. Bagai |
|
Title:
|
Chief
Executive Officer |
v3.23.2
Cover
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Aug. 21, 2023 |
Cover [Abstract] |
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Document Type |
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|
Document Period End Date |
Aug. 21, 2023
|
Entity File Number |
001-40738
|
Entity Registrant Name |
RENOVORX,
INC.
|
Entity Central Index Key |
0001574094
|
Entity Tax Identification Number |
27-1448452
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
4546
El Camino Real
|
Entity Address, Address Line Two |
Suite B1
|
Entity Address, City or Town |
Los
Altos
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94022
|
City Area Code |
(650)
|
Local Phone Number |
284-4433
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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|
Title of 12(b) Security |
Common
Stock, $0.0001 par value per share
|
Trading Symbol |
RNXT
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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Elected Not To Use the Extended Transition Period |
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Grafico Azioni RenovoRx (NASDAQ:RNXT)
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