Second Sight Medical Products Inc (EYES)

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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard.



Letter from Nasdaq dated June 1, 2020



On June 1, 2020, The Nasdaq Stock Market (“Nasdaq”) notified Second Sight Medical Products, Inc. (the “Company”) that following the resignation of William J. Link, effective May 31, 2020, the Company is non-compliant with Nasdaq’s independent director and audit committee requirements as set forth in Listing Rule 5605 (the “Listing Rules”) due to more than one vacancy on its board and audit committee. Nasdaq had previously notified the Company on April 15, 2020 that due to the appointment of Matt Pfeffer as Acting Chief Executive Officer of the Company, the Company no longer complied with the Listing Rules and that consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4) the Company was provided with a cure period in which to regain compliance. As a result, Nasdaq indicated that the Company is no longer eligible for the cure period and must submit a plan of compliance no later than July 16, 2020, which is 45 days after the notification date. If the plan is accepted, the Company can be granted an extension of up to 180 calendar days from the notification date to evidence compliance. If the plan is not accepted, the Company may appeal before a Nasdaq Hearing Panel.