Form 8-K - Current report
14 Settembre 2023 - 10:31PM
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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) September 8, 2023
SEQLL INC.
(Exact
name of registrant as specified in charter)
Delaware |
|
001-40760 |
|
46-5319744 |
(State
or other Jurisdiction of
Incorporation or Organization) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
3 Federal Street
Billerica, Massachusetts |
|
01821 |
(Address
of Principal Executive Offices) |
|
(zip
code) |
(781)
460-6016
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of 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(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
☐ |
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 $.00001 per share |
|
SQL |
|
The
Nasdaq Stock Market LLC |
Warrants to purchase Common Stock |
|
SQLLW |
|
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 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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
September 8, 2023, SeqLL Inc. (the “Company”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock
Market LLC (“Nasdaq”) regarding compliance with Nasdaq Listing Rule 5550(a)(4) (the “Rule”), which requires the
Company to have a minimum of 500,000 publicly held shares, exclusive of shares held by officers, directors and 10% stockholders. The
letter from Nasdaq indicated that according to its calculations, as of September 7, 2023, the Company no longer meets the requirements
of the Rule.
This
notice of noncompliance has no immediate impact on the continued listing or trading of the Company’s securities on the Nasdaq Capital
Market, which will continue to be listed and traded on Nasdaq, subject to the Company’s compliance with the other Nasdaq continued
listing requirements. The Company has until October 23, 2023 to submit a letter to Nasdaq with its plan to regain compliance with the
Rule. If Nasdaq does not accept the Company’s plan, Nasdaq will provide notice that the Company’s common stock will be subject
to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel.
The
notification has no immediate effect on the listing of the Company’s common stock on Nasdaq. As previously disclosed, in connection
with the transactions contemplated by the Agreement and Plan of Reorganization dated as of May 29, 2023, as amended, among the Company,
SeqLL Merger LLC, Atlantic Acquisition Corp., Atlantic Merger LLC, Lyneer Investments, LLC, IDC Technologies, Inc. and Lyneer Management
Holdings LLC, the Company intends to complete a public offering of its common stock, which the Company believes will bring it into compliance
with the Rule. The Company will continue to monitor its compliance with Nasdaq’s listing standards and intends to take all reasonable
measures available to regain compliance.
Forward-Looking
Statements
This
report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. Words like “believe,” “intend,” “will,”
and “would” or the negative thereof or other variations thereon or comparable terminology, are used to identify forward-looking
statements, although not all forward-looking statements contain these words. Although the Company believes that it is basing its expectations
and beliefs on reasonable assumptions within the bounds of what is currently known about its business and operations, there can be no
assurance that actual results will not differ materially from what the Company expects or believes. Some of the factors that could cause
the Company’s actual results to differ materially from its expectations or beliefs are disclosed in the “Risk Factors”
section, as well as other sections, of its reports filed with the Securities and Exchange Commission, which include, without limitation,
its ability to regain compliance with the Nasdaq Listing Standards and maintain the listing of its securities on Nasdaq, and its ability
to complete a public offering of its securities. All forward-looking statements speak only as of the date on which they are made and
the Company undertakes no duty to update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.
Item 9.01 Financial Statements and Exhibits
(d)
Exhibits
Exhibit
No. |
|
Description |
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document). |
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.
|
SEQLL
INC. |
|
|
|
Date:
September 14, 2023 |
By: |
/s/
Daniel Jones |
|
Name: |
Daniel
Jones |
|
Title: |
Chief
Executive Officer |
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