UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, D.C. 20549 

 

FORM 8-K

 

CURRENT REPORT 

Pursuant to Section 13 or Section 15(d) 

of the Securities Exchange Act of 1934 

 

Date of Report (Date of earliest event reported): December 27, 2024

 

BioNexus Gene Lab Corp.

(Exact name of registrant as specified in its charter) 

 

Wyoming

 

001-41750

 

35-2604830

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

Unit A-28-7, Tower A, Menara UOA Bangsar,

No.5 Jln Bangsar Utama 1,

59000 Kuala Lumpur

 

59200

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: +1 307 241 6898

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the 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 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 or to be 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, no par value

 

BGLC

 

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 (§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 December 27, 2024, BioNexus Gene Lab Corp. (the “Company”) received a written notice from the Nasdaq Hearings Panel (the “Panel”) indicating that the Company has been granted a temporary exception to regain compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share (the “Bid Price Rule”).

 

The Company has until May 1, 2025, to regain compliance. As part of this compliance plan, the Company intends to effect a reverse stock split, if necessary, no later than April 7, 2025, and has outlined steps to meet this timeline. Failure to regain compliance by May 1, 2025, will result in the delisting of the Company’s common stock from The Nasdaq Capital Market.

 

Additionally, Nasdaq has updated its rules regarding reverse stock splits. Effective January 30, 2025, the Company must notify Nasdaq of specific details, including the date of shareholder approval, at least ten (10) calendar days prior to the anticipated market effective date of the reverse stock split.

 

The Company is taking the necessary steps to ensure compliance with the Bid Price Rule within the granted timeframe and will provide updates as appropriate.

 

 
2

 

 

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. 

 

 

BioNexus Gene Lab Corp.

 

 

 

 

Date: December 31, 2024

By:

/s/ Su-Leng Tan Lee

 

 

Name:

Su-Leng Tan Lee

 

Title:

Chief Executive Officer

 

 

 
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Cover
Dec. 27, 2024
Cover [Abstract]  
Entity Registrant Name BioNexus Gene Lab Corp.
Entity Central Index Key 0001737523
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company true
Document Period End Date Dec. 27, 2024
Entity Ex Transition Period false
Entity File Number 001-41750
Entity Incorporation State Country Code WY
Entity Tax Identification Number 35-2604830
Entity Address Address Line 1 Unit A-28-7, Tower A
Entity Address Address Line 2 Menara UOA Bangsar
Entity Address Address Line 3 No.5 Jln Bangsar Utama 1
Entity Address City Or Town Kuala Lumpur
Entity Address Postal Zip Code 59200
City Area Code 307
Local Phone Number 241 6898
Security 12b Title Common Stock, no par value
Trading Symbol BGLC
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
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