Sunday, July 23, 2017 5:02:27 PM
Hearing process:
1. NASDAQ will notify Amedica of failure to maintain $1 on the 15th. The letter will also tell Amedica NASDAQ intention to delist if mgmt does not notify NASDAQ of its wish for a hearing within 7 days.
2. Upon receiving said letter from Amedica NASDAQ will schedule a hearing within 45 days. (That means hearing late September)
3. Assuming panel is happy with managements intentions to satisfy $1 minimum bid rule, NASDAQ will grant them up to 4 more months to execute reverse split. (total of 6 additional months).
Its important to note that any merger between Amedica and Zimmer will take 45-60 days likely closing early October just after hearing. Example #2 shows a similar example. Amedica must maintain listing until completion as shares are pooled up.
Example #1:
NASDAQ Hearings Panel Grants Exception Period to Aastrom Based on Request to Remain Listed on the NASDAQ Stock Market
As you can see, you must have a proxy in place with a vote scheduled before hearing for panel to see that management is serious about meeting the $1 minimum bid.
Example #2
TRANSGENOMIC INC : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Submission of Matters to a Vote of Security Holders (form 8-K)e
Example #2 adds in the element of a merger into the equation mostly because valuation of TBIO is below the minimum requirement. The purpose of this example is to show what NASDAQ panel will be looking for.
As i said above hearing take place within 45 days of request of hearing. Assuming buyout is announced after August 1st and before hearing date, Amedica will need to maintain listing as the completion process takes 45-60 days. Even announced mergers run into roadblocks as TBIO experienced so RS must be a backup in case of that event. Obviously TBIO had 2 conditions it had to meet and because merger did not happen in time they were delisted.
Transgenomic Provides Update On Its Planned Merger And Reports Change in Listing Status
NASDAQ will require that either a RS is effectuated by such and such date or that the merger completes within the designated timeframe. Reverse split is absolutely a backup plan in this scenario!
Recent SINT News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/26/2024 08:30:31 PM
- Prodways and SINTX Announce Joint Webinar Stay Ahead of the Curve: “Innovations in Ceramic Manufacturing: The Role of 3D Printing” • GlobeNewswire Inc. • 09/20/2024 12:00:00 PM
- SINTX Announces Completion of $3.1 Million ATM Equity Public Offering • GlobeNewswire Inc. • 09/19/2024 12:00:00 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
- SINTX Receives Notice of Allowance for United States Patent Application for Silicon Nitride-Functionalized Zirconia-Toughened Alumina Ceramic Biomaterial • GlobeNewswire Inc. • 09/09/2024 12:00:00 PM
- Significant Cost Reductions, Extended Cash Runway, and Exploration of Strategic Partnerships • GlobeNewswire Inc. • 09/05/2024 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:32:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 01:05:17 PM
- SINTX Technologies Announces Appointment of Eric K. Olson as Chief Executive Officer • GlobeNewswire Inc. • 08/06/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/11/2024 08:45:11 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/11/2024 08:15:48 PM
- SINTX Technologies to Explore Strategic Opportunities • GlobeNewswire Inc. • 06/18/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/12/2024 01:05:12 PM
- SINTX Technologies Regains Compliance with Nasdaq Bid Price Requirement • GlobeNewswire Inc. • 06/12/2024 01:00:00 PM
- SINTX Technologies Receives Additional SBIR Contract for 3D Printing Technology • GlobeNewswire Inc. • 06/06/2024 01:00:00 PM
- SINTX TECHNOLOGIES SIGNS AGREEMENT TO ENTER KOREAN TECHNICAL CERAMICS SECTOR • GlobeNewswire Inc. • 05/29/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 01:10:13 PM
- SINTX TECHNOLOGIES ANNOUNCES REVERSE STOCK SPLIT EFFECTIVE MAY 28, 2024 • GlobeNewswire Inc. • 05/23/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 01:00:29 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/13/2024 09:20:34 PM
- SINTX AND PRODWAYS AGREE ON CERAMIC SLURRY SUPPLY AND 3D PRINTING AGREEMENT • GlobeNewswire Inc. • 04/29/2024 01:14:20 PM
- SINTX Technologies Announces Pricing of $1.5 Million Public Offering of Common Stock • GlobeNewswire Inc. • 04/03/2024 01:00:00 PM
- SINTX Technologies Announces Proposed Public Offering of Common Stock • GlobeNewswire Inc. • 03/29/2024 08:00:00 PM
- SINTX Technologies Announces Pricing of $1.3 Million Public Offering of Common Stock • GlobeNewswire Inc. • 03/25/2024 01:00:00 PM
- SINTX Technologies Announces Proposed Public Offering of Common Stock • GlobeNewswire Inc. • 03/22/2024 12:30:00 PM
BARRON'S COVE to Premier at the Hamptons International Film Festival • APHP • Sep 30, 2024 2:56 PM
Lingerie Fighting Championships Signs Broadcast Deal With Maybacks Global Entertainment • BOTY • Sep 26, 2024 9:00 AM
Maybacks Global Entertainment and Lingerie Fighting Championships Enter Into Broadcast And Revenue Sharing Agreement • AHRO • Sep 26, 2024 8:30 AM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM