Form 8-K - Current report
07 Juli 2023 - 10:10PM
Edgar (US Regulatory)
0001686850
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0001686850
2023-07-06
2023-07-06
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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): July 6, 2023
MOTUS
GI HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-38389 |
|
81-4042793 |
(State
or other jurisdiction |
|
(Commission
|
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
1301
East Broward Boulevard, 3rd Floor
Ft.
Lauderdale, FL |
|
33301 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (954) 541-8000
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 Instruction A.2. below):
☐ |
Written
communication 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
communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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.
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchanged on Which Registered |
Common
Stock, $0.0001 par value per share |
|
MOTS |
|
The
Nasdaq Capital Market |
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
As
previously reported, on January 4, 2023, Motus GI Holdings, Inc. (the “Company”) received notice from the Nasdaq Stock Market
LLC (“Nasdaq”) indicating that it was not in compliance with Nasdaq Listing Rule 5550(b)(1) which requires companies listed
on Nasdaq to maintain a minimum $2,500,000 in stockholders’ equity for continued listing. Based on the Listing Qualifications Staff’s
(the “Staff”) review and the materials submitted by the Company on February 21, 2023, the Staff granted the Company’s
request for an extension until July 3, 2023 to comply with this requirement.
On
July 6, 2023, the Company received a letter from the Staff advising the Company that the Staff had determined that the Company did not
meet the terms of the extension by July 3, 2023.
The
Company intends to appeal the Staff’s delisting determination by submitting a hearing request to the Nasdaq Hearings Panel (the
“Panel”), which request will automatically stay the delisting of the Company’s securities by the Staff on July 17,
2023 at least until the hearing process concludes. At the Panel hearing, the Company intends to present a detailed plan to regain compliance
with Listing Rule 5550(b)(1).
There
can be no assurance that the Company’s plan will be accepted by the Panel or that, if it is, the Company will be able to regain
compliance with such applicable Nasdaq listing requirements. If the Company’s common stock is delisted, it could be more difficult
to buy or sell the Company’s common stock or to obtain accurate quotations, and the price of the Company’s common stock could
suffer a material decline. Delisting could also impair the Company’s ability to raise capital.
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.
|
MOTUS
GI HOLDINGS, INC. |
|
|
|
Dated:
July 7, 2023 |
By:
|
/s/
Mark Pomeranz |
|
Name:
|
Mark
Pomeranz |
|
Title: |
Chief
Executive Officer |
v3.23.2
Cover
|
Jul. 06, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jul. 06, 2023
|
Entity File Number |
001-38389
|
Entity Registrant Name |
MOTUS
GI HOLDINGS, INC.
|
Entity Central Index Key |
0001686850
|
Entity Tax Identification Number |
81-4042793
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
1301
East Broward Boulevard
|
Entity Address, Address Line Two |
3rd Floor
|
Entity Address, City or Town |
Ft.
Lauderdale
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33301
|
City Area Code |
(954)
|
Local Phone Number |
541-8000
|
Written Communications |
false
|
Soliciting Material |
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|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common
Stock, $0.0001 par value per share
|
Trading Symbol |
MOTS
|
Security Exchange Name |
NASDAQ
|
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